Principal Financial Group Inc. Boosts Holdings in Canadian National Railway Company (NYSE:CNI)

Principal Financial Group Inc. increased its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 3.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 94,400 shares of the transportation company’s stock after buying an additional 3,400 shares during the quarter. Principal Financial Group Inc.’s holdings in Canadian National Railway were worth $9,185,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Lee Danner & Bass Inc. purchased a new position in shares of Canadian National Railway during the 4th quarter valued at about $30,000. Bruce G. Allen Investments LLC raised its holdings in shares of Canadian National Railway by 44.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company’s stock worth $34,000 after acquiring an additional 106 shares in the last quarter. CX Institutional purchased a new stake in shares of Canadian National Railway during the 1st quarter worth approximately $39,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Canadian National Railway during the 4th quarter valued at approximately $52,000. Finally, Dunhill Financial LLC increased its position in shares of Canadian National Railway by 1,020.0% during the 4th quarter. Dunhill Financial LLC now owns 560 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 510 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Argus raised Canadian National Railway to a “hold” rating in a research report on Friday, June 27th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $163.00 price target on shares of Canadian National Railway in a research note on Thursday, June 5th. Raymond James Financial lowered Canadian National Railway from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Evercore ISI dropped their target price on Canadian National Railway from $119.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Barclays raised their price objective on Canadian National Railway from $101.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.86.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $103.99 on Tuesday. The business’s 50 day moving average price is $104.48 and its 200 day moving average price is $101.65. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.43 and a current ratio of 0.62. The company has a market cap of $65.15 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 2.11 and a beta of 0.97. Canadian National Railway Company has a one year low of $91.65 and a one year high of $123.96.

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 for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.29% and a net margin of 26.19%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $4.38 billion. During the same period in the previous year, the firm posted $1.72 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. On average, research analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were given 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 was Monday, June 9th. Canadian National Railway’s dividend payout ratio is currently 50.49%.

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.