Intech Investment Management LLC Buys 45,183 Shares of Canadian National Railway (NYSE:CNI)

Intech Investment Management LLC raised its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 130.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,925 shares of the transportation company’s stock after purchasing an additional 45,183 shares during the period. Intech Investment Management LLC’s holdings in Canadian National Railway were worth $9,443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CNI. Capital International Investors grew its holdings in Canadian National Railway by 63.2% during the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock valued at $957,845,000 after buying an additional 2,951,506 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Canadian National Railway by 92.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock valued at $593,911,000 after acquiring an additional 2,163,820 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Canadian National Railway by 9.6% in the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after purchasing an additional 1,907,938 shares in the last quarter. FIL Ltd increased its position in Canadian National Railway by 7.2% in the fourth quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock worth $2,412,032,000 after purchasing an additional 1,280,726 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in Canadian National Railway during the second quarter valued at $134,096,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

CNI has been the subject of a number of recent research reports. National Bank Financial raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Stephens lowered their price objective on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Barclays cut their target price on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Sanford C. Bernstein downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $146.25 to $130.67 in a research report on Monday, July 8th. Sixteen investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average price target of $137.35.

Canadian National Railway Trading Down 1.6 %

Shares of NYSE CNI opened at $117.11 on Friday. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $116.23 and a two-hundred day simple moving average of $122.20. The firm has a market cap of $74.06 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.56 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the company earned $1.31 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. Analysts expect that Canadian National Railway will post 5.58 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.614 per share. The ex-dividend date is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.10%. Canadian National Railway’s dividend payout ratio is presently 39.07%.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.