Assenagon Asset Management S.A. Has $1.85 Million Stock Position in Canadian National Railway Company (NYSE:CNI)

Assenagon Asset Management S.A. raised its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,970 shares of the transportation company’s stock after acquiring an additional 581 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Canadian National Railway were worth $1,846,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Canadian National Railway in the fourth quarter valued at approximately $563,048,000. Royal Bank of Canada increased its stake in shares of Canadian National Railway by 7.5% in the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company’s stock valued at $2,817,616,000 after buying an additional 1,934,622 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Canadian National Railway by 33.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company’s stock worth $557,278,000 after acquiring an additional 1,380,554 shares during the last quarter. Capital International Investors lifted its stake in shares of Canadian National Railway by 12.8% during the fourth quarter. Capital International Investors now owns 11,822,063 shares of the transportation company’s stock valued at $1,199,680,000 after acquiring an additional 1,341,133 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Canadian National Railway by 29.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company’s stock valued at $488,488,000 after acquiring an additional 1,102,977 shares during the period. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CNI shares. Raymond James Financial downgraded shares of Canadian National Railway from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Bank of America raised their price objective on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Stifel Nicolaus lowered their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 14th. Royal Bank Of Canada reissued an “outperform” rating and issued a $163.00 price target on shares of Canadian National Railway in a research note on Thursday, June 5th. Finally, Evercore ISI decreased their price objective on Canadian National Railway from $119.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Canadian National Railway has a consensus rating of “Moderate Buy” and an average price target of $120.36.

Canadian National Railway Trading Down 2.6%

NYSE:CNI opened at $102.03 on Wednesday. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $123.96. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.62 and a quick ratio of 0.43. The stock has a market capitalization of $64.06 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The business’s 50-day simple moving average is $102.24 and its 200-day simple moving average is $101.77.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.38 billion. Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 earnings per share. Sell-side analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.8875 per share. This is a boost from Canadian National Railway’s previous dividend of $0.29. This represents a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, June 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 50.49%.

Canadian National Railway 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.