Meeder Asset Management Inc. increased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4,880.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,743 shares of the transportation company’s stock after acquiring an additional 1,708 shares during the quarter. Meeder Asset Management Inc.’s holdings in Canadian National Railway were worth $202,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in Canadian National Railway by 134.6% in the 4th quarter. Bank of New York Mellon Corp now owns 9,054,282 shares of the transportation company’s stock valued at $994,611,000 after buying an additional 5,195,624 shares during the period. Norges Bank purchased a new stake in Canadian National Railway in the fourth quarter valued at approximately $790,551,000. Fiera Capital Corp grew its holdings in Canadian National Railway by 1.5% in the fourth quarter. Fiera Capital Corp now owns 4,636,103 shares of the transportation company’s stock valued at $508,127,000 after purchasing an additional 67,748 shares during the period. Toronto Dominion Bank increased its position in Canadian National Railway by 4.3% during the fourth quarter. Toronto Dominion Bank now owns 4,251,249 shares of the transportation company’s stock worth $467,442,000 after purchasing an additional 174,430 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in Canadian National Railway by 2.4% during the fourth quarter. Schroder Investment Management Group now owns 4,104,619 shares of the transportation company’s stock worth $574,392,000 after purchasing an additional 95,341 shares during the period. 54.23% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on CNI. Credit Suisse Group cut their target price on Canadian National Railway from $125.00 to $122.00 and set an “outperform” rating on the stock in a research report on Monday, May 3rd. Benchmark initiated coverage on shares of Canadian National Railway in a research note on Wednesday, January 27th. They issued a “hold” rating on the stock. CIBC decreased their price target on shares of Canadian National Railway from $148.00 to $146.00 and set a “neutral” rating for the company in a research report on Tuesday, April 27th. TD Securities cut their price objective on Canadian National Railway from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, January 27th. Finally, National Bank Financial reaffirmed a “sector perform” rating on shares of Canadian National Railway in a research report on Wednesday, April 21st. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $128.94.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Sunday, April 25th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.01). Canadian National Railway had a net margin of 24.90% and a return on equity of 19.55%. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the business earned $1.22 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Equities analysts forecast that Canadian National Railway will post 4.1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, June 9th will be given a dividend of $0.4964 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Tuesday, June 8th. This represents a $1.99 dividend on an annualized basis and a yield of 1.79%. Canadian National Railway’s dividend payout ratio (DPR) is presently 29.61%.
Canadian National Railway Company Profile
Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. Its portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.
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