Scotia Capital Inc. Raises Stake in Canadian National Railway (NYSE:CNI)

Scotia Capital Inc. boosted its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,012,858 shares of the transportation company's stock after buying an additional 321,178 shares during the period. Canadian National Railway accounts for approximately 1.6% of Scotia Capital Inc.'s portfolio, making the stock its 18th biggest holding. Scotia Capital Inc. owned about 0.48% of Canadian National Railway worth $304,712,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNI. Y Intercept Hong Kong Ltd acquired a new stake in Canadian National Railway during the 3rd quarter worth $823,000. Geode Capital Management LLC boosted its stake in shares of Canadian National Railway by 6.6% during the third quarter. Geode Capital Management LLC now owns 2,562,480 shares of the transportation company's stock worth $302,895,000 after buying an additional 158,757 shares during the period. Toronto Dominion Bank grew its holdings in shares of Canadian National Railway by 64.5% during the third quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company's stock worth $174,813,000 after buying an additional 584,832 shares during the last quarter. Unigestion Holding SA increased its position in Canadian National Railway by 363.6% in the 3rd 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 during the period. Finally, Advisory Resource Group raised its stake in Canadian National Railway by 13.4% during the 3rd quarter. Advisory Resource Group now owns 8,391 shares of the transportation company's stock valued at $983,000 after acquiring an additional 989 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

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Analyst Ratings Changes

Several research firms have recently commented on CNI. JPMorgan Chase & Co. upgraded Canadian National Railway from a "neutral" rating to an "overweight" rating in a research note on Tuesday, January 7th. Citigroup reduced their target price 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. Evercore ISI raised shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a report on Thursday, December 19th. Susquehanna reduced their price objective on shares of Canadian National Railway from $115.00 to $113.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Finally, Barclays dropped their target price on Canadian National Railway from $112.00 to $104.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Canadian National Railway currently has a consensus rating of "Moderate Buy" and an average price target of $121.19.

Canadian National Railway Trading Up 4.1 %

NYSE CNI traded up $3.96 during mid-day trading on Friday, reaching $99.77. 1,712,787 shares of the stock were exchanged, compared to its average volume of 1,275,789. The stock has a market capitalization of $62.70 billion, a PE ratio of 19.49, a PEG ratio of 1.95 and a beta of 0.93. 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 1-year low of $91.65 and a 1-year high of $130.63. The business's fifty day simple moving average is $99.36 and its 200 day simple moving average is $104.90.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Thursday, January 30th. The transportation company reported $1.30 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%. On average, research analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a dividend of $0.6159 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a yield of 2.47%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. Canadian National Railway's dividend payout ratio (DPR) is currently 47.66%.

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.