Canadian National Railway Company $CNI Shares Acquired by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 9.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 802,257 shares of the transportation company’s stock after buying an additional 71,364 shares during the period. Canadian National Railway comprises approximately 5.4% of Scheer Rowlett & Associates Investment Management Ltd.’s investment portfolio, making the stock its 4th biggest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Canadian National Railway were worth $83,646,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Curio Wealth LLC boosted its stake in shares of Canadian National Railway by 31,600.0% during the 2nd quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock worth $33,000 after acquiring an additional 316 shares in the last quarter. Dagco Inc. acquired a new stake in shares of Canadian National Railway during the first quarter worth $32,000. Brooklyn Investment Group lifted its holdings in shares of Canadian National Railway by 354.3% during the first quarter. Brooklyn Investment Group now owns 427 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 333 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Canadian National Railway by 42.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 167 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Canadian National Railway in the 1st quarter valued at $74,000. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CNI. Raymond James Financial raised shares of Canadian National Railway from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 17th. Bank of America reduced their price target on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Wells Fargo & Company decreased their price objective on shares of Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, October 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Canadian National Railway in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus price target of $114.00.

Canadian National Railway Trading Up 0.5%

Shares of NYSE:CNI opened at $95.00 on Friday. The firm has a fifty day moving average of $94.92 and a two-hundred day moving average of $98.61. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 12-month low of $91.07 and a 12-month high of $113.08. The firm has a market capitalization of $58.78 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 2.13 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $4.15 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. Canadian National Railway’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 earnings per share. On average, equities analysts expect that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be paid a dividend of $0.8875 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.7%. Canadian National Railway’s dividend payout ratio (DPR) is 48.01%.

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.