Cardinal Capital Management Inc. lifted its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 530,399 shares of the transportation company’s stock after acquiring an additional 6,328 shares during the period. Canadian National Railway accounts for approximately 4.7% of Cardinal Capital Management Inc.’s holdings, making the stock its 9th biggest position. Cardinal Capital Management Inc. owned approximately 0.07% of Canadian National Railway worth $47,481,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of CNI. Norges Bank acquired a new stake in shares of Canadian National Railway in the 4th quarter worth approximately $483,340,000. Mackenzie Financial Corp lifted its stake in Canadian National Railway by 29.2% during the fourth quarter. Mackenzie Financial Corp now owns 6,642,677 shares of the transportation company’s stock valued at $492,289,000 after purchasing an additional 1,500,861 shares during the last quarter. Morgan Stanley lifted its stake in Canadian National Railway by 18.0% during the third quarter. Morgan Stanley now owns 6,515,346 shares of the transportation company’s stock valued at $585,078,000 after purchasing an additional 992,137 shares during the last quarter. Deutsche Bank AG lifted its stake in Canadian National Railway by 36.9% during the fourth quarter. Deutsche Bank AG now owns 3,442,007 shares of the transportation company’s stock valued at $255,082,000 after purchasing an additional 927,659 shares during the last quarter. Finally, Vanguard Group Inc lifted its stake in Canadian National Railway by 2.7% during the third quarter. Vanguard Group Inc now owns 19,024,269 shares of the transportation company’s stock valued at $1,708,379,000 after purchasing an additional 497,662 shares during the last quarter. 55.16% of the stock is owned by institutional investors.
Several research firms recently commented on CNI. National Bank Financial reissued a “hold” rating on shares of Canadian National Railway in a research note on Thursday, March 28th. ValuEngine upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Macquarie restated a “hold” rating on shares of Canadian National Railway in a report on Thursday, March 28th. Stephens upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating in a report on Thursday, January 3rd. Finally, Barclays restated a “hold” rating and set a $86.00 price target on shares of Canadian National Railway in a report on Thursday, January 17th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $93.30.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, January 29th. The transportation company reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.38. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.80 billion. Canadian National Railway had a net margin of 30.19% and a return on equity of 23.28%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 EPS. Equities research analysts forecast that Canadian National Railway will post 4.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a dividend of $0.4026 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.61 annualized dividend and a dividend yield of 1.70%. Canadian National Railway’s dividend payout ratio is 38.46%.
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About Canadian National Railway
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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