American Century Companies Inc. Raises Stake in Canadian National Railway Company $CNI

American Century Companies Inc. grew its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 31.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 204,129 shares of the transportation company’s stock after buying an additional 48,288 shares during the period. American Century Companies Inc.’s holdings in Canadian National Railway were worth $21,270,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CNI. Bennett Selby Investments LP grew its holdings in shares of Canadian National Railway by 2.2% during the second quarter. Bennett Selby Investments LP now owns 4,796 shares of the transportation company’s stock worth $499,000 after buying an additional 101 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Canadian National Railway by 13.4% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 929 shares of the transportation company’s stock valued at $97,000 after purchasing an additional 110 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Canadian National Railway by 3.3% in the second quarter. IFP Advisors Inc now owns 3,582 shares of the transportation company’s stock valued at $373,000 after purchasing an additional 115 shares during the period. D.A. Davidson & CO. raised its stake in shares of Canadian National Railway by 5.3% during the second quarter. D.A. Davidson & CO. now owns 2,374 shares of the transportation company’s stock worth $247,000 after purchasing an additional 119 shares during the last quarter. Finally, MAI Capital Management raised its stake in shares of Canadian National Railway by 5.0% during the second quarter. MAI Capital Management now owns 2,933 shares of the transportation company’s stock worth $305,000 after purchasing an additional 139 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of CNI opened at $95.58 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $111.67. The company has a 50-day simple moving average of $94.83 and a 200-day simple moving average of $97.96. The company has a market capitalization of $58.93 billion, a PE ratio of 18.38, a P/E/G ratio of 2.13 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.05. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the business posted $1.72 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, December 9th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s dividend payout ratio (DPR) is 48.01%.

Wall Street Analyst Weigh In

CNI has been the topic of a number of analyst reports. Cibc Captl Mkts upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Friday. Barclays reduced their target price on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a research note on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Canadian National Railway in a research note on Wednesday, October 8th. Wells Fargo & Company cut their price target on shares of Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, October 6th. Finally, Susquehanna lifted their price objective on Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $117.36.

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.