Raymond James Financial Inc. Acquires Shares of 276,052 Canadian National Railway (NYSE:CNI)

Raymond James Financial Inc. acquired a new stake in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 276,052 shares of the transportation company's stock, valued at approximately $28,022,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. XTX Topco Ltd lifted its position in shares of Canadian National Railway by 43.3% in the third quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company's stock valued at $1,822,000 after acquiring an additional 4,698 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Canadian National Railway by 29.6% in the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company's stock valued at $10,820,000 after acquiring an additional 21,100 shares in the last quarter. Unigestion Holding SA lifted its position in shares of Canadian National Railway by 363.6% in the third quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company's stock valued at $18,012,000 after acquiring an additional 120,687 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted 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 acquiring an additional 202,303 shares in the last quarter. Finally, Partners Group Holding AG lifted its position in shares of Canadian National Railway by 16.3% in the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company's stock valued at $47,571,000 after acquiring an additional 56,849 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Canadian National Railway Stock Down 0.7 %

Shares of CNI stock traded down $0.71 during trading hours on Tuesday, reaching $97.50. The company had a trading volume of 777,316 shares, compared to its average volume of 1,183,678. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. Canadian National Railway has a twelve month low of $93.64 and a twelve month high of $134.02. The company has a market capitalization of $61.27 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The stock's fifty day simple moving average is $101.67 and its 200 day simple moving average is $107.71.

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 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%. As a group, sell-side analysts expect that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.6159 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.53%. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.61. Canadian National Railway's dividend payout ratio (DPR) is 47.66%.

Analyst Ratings Changes

CNI has been the topic of several recent research reports. Wells Fargo & Company reduced their price objective on Canadian National Railway from $125.00 to $123.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada reduced their target price on 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. Stifel Nicolaus increased their target price on Canadian National Railway from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Evercore ISI upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Thursday, December 19th. Finally, Bank of America reduced their target price on Canadian National Railway from $119.00 to $112.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Canadian National Railway 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.