CANADA LIFE ASSURANCE Co Acquires 31,157 Shares of Canadian National Railway (NYSE:CNI)

CANADA LIFE ASSURANCE Co increased its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 388,585 shares of the transportation company's stock after buying an additional 31,157 shares during the period. CANADA LIFE ASSURANCE Co owned 0.06% of Canadian National Railway worth $39,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNI. Vanguard Group Inc. increased its position in Canadian National Railway by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 22,986,678 shares of the transportation company's stock worth $2,334,251,000 after buying an additional 101,228 shares during the last quarter. TD Asset Management Inc. grew its position in shares of Canadian National Railway by 2.7% in the fourth quarter. TD Asset Management Inc. now owns 11,768,500 shares of the transportation company's stock valued at $1,194,443,000 after purchasing an additional 309,210 shares during the last quarter. Fiera Capital Corp grew its position in shares of Canadian National Railway by 2.6% in the fourth quarter. Fiera Capital Corp now owns 5,624,594 shares of the transportation company's stock valued at $570,550,000 after purchasing an additional 142,070 shares during the last quarter. Norges Bank acquired a new stake in Canadian National Railway in the 4th quarter valued at approximately $563,048,000. Finally, CIBC Asset Management Inc grew its holdings in Canadian National Railway by 12.6% in the 4th quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company's stock valued at $519,843,000 after buying an additional 571,967 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

CNI has been the subject of several research reports. Barclays reduced their price objective on Canadian National Railway from $112.00 to $104.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. Citigroup dropped their price objective on shares of Canadian National Railway from $122.00 to $114.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. raised shares of Canadian National Railway from a "neutral" rating to an "overweight" rating in a research note on Tuesday, January 7th. Wells Fargo & Company decreased their price objective on Canadian National Railway from $125.00 to $123.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Finally, Loop Capital cut Canadian National Railway from a "hold" rating to a "sell" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Canadian National Railway currently has an average rating of "Moderate Buy" and an average target price of $120.36.

Canadian National Railway Stock Up 0.2 %

Shares of Canadian National Railway stock traded up $0.17 during trading on Wednesday, reaching $97.76. The stock had a trading volume of 1,261,974 shares, compared to its average volume of 1,468,886. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $61.44 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 1.95 and a beta of 0.93. The stock has a fifty day moving average price of $98.81 and a two-hundred day moving average price of $104.08. Canadian National Railway has a 52 week low of $91.65 and a 52 week high of $130.60.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. Sell-side analysts predict that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.52%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. The ex-dividend date was Monday, March 10th. Canadian National Railway's payout ratio is presently 47.66%.

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.