TD Asset Management Inc Buys 273,974 Shares of Canadian National Railway Company $CNI

TD Asset Management Inc lifted its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 2.3% in the second quarter, HoldingsChannel.com reports. The fund owned 12,072,540 shares of the transportation company’s stock after acquiring an additional 273,974 shares during the quarter. Canadian National Railway accounts for approximately 1.1% of TD Asset Management Inc’s portfolio, making the stock its 18th largest position. TD Asset Management Inc’s holdings in Canadian National Railway were worth $1,255,385,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new stake in Canadian National Railway in the 2nd quarter worth approximately $310,489,000. The Manufacturers Life Insurance Company raised its position in Canadian National Railway by 37.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company’s stock worth $518,260,000 after purchasing an additional 1,439,617 shares during the period. Nuveen LLC bought a new stake in Canadian National Railway in the first quarter worth $112,216,000. Price T Rowe Associates Inc. MD boosted its position in Canadian National Railway by 20.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock valued at $646,983,000 after buying an additional 1,148,569 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Canadian National Railway by 39.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock worth $259,694,000 after buying an additional 755,518 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $96.15 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. Canadian National Railway Company has a 1 year low of $91.07 and a 1 year high of $116.79. The company’s 50-day moving average is $94.59 and its 200 day moving average is $98.93. The stock has a market capitalization of $59.69 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.14 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the company posted $1.84 EPS. On average, sell-side analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 8th were given a dividend of $0.6507 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, September 8th. Canadian National Railway’s payout ratio is 50.19%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNI. Wall Street Zen cut Canadian National Railway from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Canadian National Railway in a report on Wednesday, October 8th. Bank of America decreased their target price on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Argus raised shares of Canadian National Railway to a “hold” rating in a research report on Friday, June 27th. Finally, Barclays decreased their price objective on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $113.90.

Canadian National Railway 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.