Norges Bank Takes $563.05 Million Position in Canadian National Railway (NYSE:CNI)

Norges Bank purchased a new position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,551,563 shares of the transportation company's stock, valued at approximately $563,048,000. Norges Bank owned about 0.88% of Canadian National Railway as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quintet Private Bank Europe S.A. bought a new position in shares of Canadian National Railway during the fourth quarter valued at $25,000. Arlington Trust Co LLC purchased a new position in Canadian National Railway in the fourth quarter worth about $30,000. Lee Danner & Bass Inc. purchased a new position in Canadian National Railway in the 4th quarter worth approximately $30,000. Addison Advisors LLC raised its holdings in Canadian National Railway by 80.2% in the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company's stock worth $32,000 after acquiring an additional 142 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Canadian National Railway by 48.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company's stock valued at $34,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Up 1.1 %

CNI stock traded up $1.03 during trading on Tuesday, hitting $98.49. 934,737 shares of the company's stock traded hands, compared to its average volume of 1,418,774. Canadian National Railway has a 1 year low of $93.64 and a 1 year high of $132.27. The business has a fifty day simple moving average of $100.98 and a two-hundred day simple moving average of $106.35. The firm has a market capitalization of $61.89 billion, a P/E ratio of 19.24, a PEG ratio of 1.95 and a beta of 0.91. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94.

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Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate 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 anticipate that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.6159 per share. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Monday, March 10th. Canadian National Railway's dividend payout ratio is currently 47.66%.

Analyst Upgrades and Downgrades

CNI has been the topic of several research analyst reports. Stifel Nicolaus upped their target price on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a "neutral" rating to an "overweight" rating in a research report on Tuesday, January 7th. Susquehanna reduced their price target on shares of Canadian National Railway from $115.00 to $113.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Jefferies Financial Group upgraded shares of Canadian National Railway from a "hold" rating to a "buy" rating and set a $120.00 target price on the stock in a report on Friday, January 10th. Finally, Royal Bank of Canada reduced their price objective on shares of Canadian National Railway from $174.00 to $171.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Canadian National Railway currently has a consensus rating of "Moderate Buy" and an average target price of $124.02.

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.