CIBC Asset Management Inc Raises Position in Canadian National Railway (NYSE:CNI)

CIBC Asset Management Inc boosted its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,119,674 shares of the transportation company's stock after buying an additional 571,967 shares during the period. Canadian National Railway accounts for about 1.7% of CIBC Asset Management Inc's portfolio, making the stock its 15th largest holding. CIBC Asset Management Inc owned 0.81% of Canadian National Railway worth $519,843,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CNI. Wellington Management Group LLP grew its position in shares of Canadian National Railway by 4.4% in the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company's stock valued at $2,175,935,000 after purchasing an additional 790,420 shares in the last quarter. National Bank of Canada FI grew its position in shares of Canadian National Railway by 46.5% in the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company's stock valued at $789,030,000 after purchasing an additional 2,137,948 shares in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Canadian National Railway by 5.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company's stock valued at $464,002,000 after purchasing an additional 202,303 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Canadian National Railway by 6.6% in the third quarter. Geode Capital Management LLC now owns 2,562,480 shares of the transportation company's stock valued at $302,895,000 after purchasing an additional 158,757 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

Shares of CNI stock traded up $1.43 during midday trading on Thursday, reaching $103.81. 940,232 shares of the company traded hands, compared to its average volume of 1,373,034. The firm's 50 day simple moving average is $102.66 and its two-hundred day simple moving average is $109.51. Canadian National Railway has a 1-year low of $98.69 and a 1-year high of $134.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. The firm has a market cap of $65.22 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.93 and a beta of 0.91.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results 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%. On average, equities research analysts expect that Canadian National Railway will post 5.5 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, March 10th. Canadian National Railway's dividend payout ratio (DPR) is presently 46.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Jefferies Financial Group upgraded Canadian National Railway from a "hold" rating to a "buy" rating and set a $120.00 price objective for the company in a research report on Friday, January 10th. Stephens reiterated an "equal weight" rating and issued a $116.00 price objective on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Wells Fargo & Company lowered their price objective on Canadian National Railway from $125.00 to $123.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Citigroup upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and upped their price target for the stock from $126.00 to $130.00 in a research note on Tuesday, November 12th. Finally, Benchmark restated a "hold" rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $124.19.

Canadian National Railway Company 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.