Canadian National Railway Company $CNI Stake Increased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 31.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,220,150 shares of the transportation company’s stock after acquiring an additional 1,019,914 shares during the period. Canadian National Railway makes up approximately 1.5% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 8th biggest holding. Connor Clark & Lunn Investment Management Ltd. owned 0.67% of Canadian National Railway worth $440,008,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Scheer Rowlett & Associates Investment Management Ltd. grew its stake in shares of Canadian National Railway by 9.8% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 802,257 shares of the transportation company’s stock worth $83,646,000 after purchasing an additional 71,364 shares during the period. PCJ Investment Counsel Ltd. boosted its holdings in Canadian National Railway by 97.8% during the second quarter. PCJ Investment Counsel Ltd. now owns 41,460 shares of the transportation company’s stock worth $4,321,000 after buying an additional 20,500 shares in the last quarter. Aviva PLC grew its position in Canadian National Railway by 6.7% during the second quarter. Aviva PLC now owns 400,387 shares of the transportation company’s stock worth $41,712,000 after buying an additional 25,050 shares during the period. AGF Management Ltd. grew its position in Canadian National Railway by 23.7% during the second quarter. AGF Management Ltd. now owns 800,550 shares of the transportation company’s stock worth $83,289,000 after buying an additional 153,572 shares during the period. Finally, Metis Global Partners LLC increased its holdings in Canadian National Railway by 8.8% in the second quarter. Metis Global Partners LLC now owns 21,365 shares of the transportation company’s stock valued at $2,226,000 after buying an additional 1,728 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.5%

Shares of NYSE:CNI opened at $95.00 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $58.78 billion, a P/E ratio of 18.27, a P/E/G ratio of 2.13 and a beta of 0.95. Canadian National Railway Company has a 52-week low of $91.07 and a 52-week high of $113.08. The stock’s fifty day simple moving average is $94.92 and its 200-day simple moving average is $98.61.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.05. The firm had revenue of $2.99 billion during 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%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.72 EPS. As a group, equities research analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th will be paid a dividend of $0.8875 per share. The ex-dividend date of this dividend is Tuesday, December 9th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 annualized dividend and a dividend yield of 3.7%. Canadian National Railway’s payout ratio is currently 48.01%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CNI shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Canadian National Railway in a research note on Wednesday, October 8th. Bank of America reduced their price objective on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Raymond James Financial raised Canadian National Railway from a “market perform” rating to an “outperform” rating in a report on Thursday, July 17th. Evercore ISI raised their price target on Canadian National Railway from $98.00 to $103.00 and gave the company an “in-line” rating in a research report on Monday, November 3rd. Finally, Zacks Research lowered shares of Canadian National Railway from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $114.00.

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.