Fiera Capital Corp Increases Holdings in Canadian National Railway (NYSE:CNI)

Fiera Capital Corp increased its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 13.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,443,461 shares of the transportation company's stock after acquiring an additional 638,817 shares during the quarter. Canadian National Railway comprises approximately 2.0% of Fiera Capital Corp's investment portfolio, making the stock its 13th biggest holding. Fiera Capital Corp owned about 0.86% of Canadian National Railway worth $643,503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GQG Partners LLC lifted its stake in Canadian National Railway by 0.8% in the first quarter. GQG Partners LLC now owns 11,424 shares of the transportation company's stock valued at $1,505,000 after buying an additional 93 shares in the last quarter. Choreo LLC lifted its stake in Canadian National Railway by 1.5% in the first quarter. Choreo LLC now owns 6,427 shares of the transportation company's stock valued at $846,000 after buying an additional 97 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Canadian National Railway by 2.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company's stock valued at $547,000 after buying an additional 100 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Canadian National Railway by 1.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company's stock valued at $1,105,000 after buying an additional 102 shares in the last quarter. Finally, Bfsg LLC lifted its stake in Canadian National Railway by 110.5% in the first quarter. Bfsg LLC now owns 200 shares of the transportation company's stock valued at $26,000 after buying an additional 105 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CNI shares. Barclays lowered their price objective on shares of Canadian National Railway from $128.00 to $120.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 24th. Scotiabank upgraded shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 10th. Benchmark reiterated a "hold" rating on shares of Canadian National Railway in a report on Wednesday, July 24th. National Bank Financial upgraded shares of Canadian National Railway from a "sector perform" rating to an "outperform" rating in a report on Thursday, June 27th. Finally, StockNews.com downgraded shares of Canadian National Railway from a "buy" rating to a "hold" rating in a report on Wednesday, May 22nd. Sixteen equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $138.35.

Canadian National Railway Price Performance

CNI traded up $0.09 on Tuesday, hitting $117.91. 1,294,745 shares of the stock were exchanged, compared to its average volume of 1,069,485. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The business has a 50-day moving average of $116.31 and a two-hundred day moving average of $123.31. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The firm has a market capitalization of $74.25 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 2.40 and a beta of 0.88.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the prior year, the company earned $1.31 EPS. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. Sell-side analysts forecast that Canadian National Railway will post 5.63 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a $0.614 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, September 6th. Canadian National Railway's dividend payout ratio is currently 39.23%.

About Canadian National Railway

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.