Canadian National Railway (CNI) Stake Increased by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 170.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,191 shares of the transportation company’s stock after acquiring an additional 54,336 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Canadian National Railway were worth $7,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc boosted its holdings in shares of Canadian National Railway by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 19,024,269 shares of the transportation company’s stock valued at $1,708,379,000 after acquiring an additional 497,662 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Canadian National Railway by 2.6% during the 1st quarter. Bank of Montreal Can now owns 16,620,227 shares of the transportation company’s stock valued at $1,487,177,000 after acquiring an additional 423,878 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Canadian National Railway by 1.3% during the 4th quarter. TD Asset Management Inc. now owns 16,419,347 shares of the transportation company’s stock valued at $1,215,522,000 after acquiring an additional 217,901 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Canadian National Railway by 29.2% during the 4th quarter. Mackenzie Financial Corp now owns 6,642,677 shares of the transportation company’s stock valued at $492,289,000 after acquiring an additional 1,500,861 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Canadian National Railway during the 4th quarter valued at about $483,340,000. 55.54% of the stock is currently owned by hedge funds and other institutional investors.

CNI opened at $93.72 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $67.74 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 1.91 and a beta of 1.07. Canadian National Railway has a 12-month low of $70.36 and a 12-month high of $95.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Monday, April 29th. The transportation company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.28. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.48 billion. Canadian National Railway had a net margin of 29.86% and a return on equity of 23.64%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. On average, equities research analysts predict that Canadian National Railway will post 4.65 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.3982 dividend. This represents a $1.59 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, June 6th. Canadian National Railway’s payout ratio is 38.46%.

A number of analysts have recently issued reports on CNI shares. Macquarie downgraded shares of Canadian National Railway from an “outperform” rating to a “neutral” rating in a report on Wednesday, January 30th. National Bank Financial reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Thursday, March 28th. Citigroup raised their price target on shares of Canadian National Railway from $87.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Desjardins downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating and set a $90.32 price objective on the stock. in a report on Friday, April 12th. Finally, ValuEngine raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Canadian National Railway currently has an average rating of “Hold” and a consensus target price of $96.69.

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Canadian National Railway Company Profile

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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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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