Envestnet Asset Management Inc. Has $21.74 Million Stake in Canadian National Railway Company $CNI

Envestnet Asset Management Inc. cut its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 13.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,587 shares of the transportation company’s stock after selling 34,426 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Canadian National Railway were worth $21,744,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Canadian National Railway by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,927,393 shares of the transportation company’s stock worth $2,493,163,000 after acquiring an additional 761,454 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Canadian National Railway by 26.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock valued at $695,048,000 after purchasing an additional 1,408,978 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Canadian National Railway by 20.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock valued at $655,768,000 after purchasing an additional 1,051,977 shares in the last quarter. Fiera Capital Corp grew its stake in Canadian National Railway by 6.0% during the second quarter. Fiera Capital Corp now owns 5,800,583 shares of the transportation company’s stock worth $604,025,000 after purchasing an additional 330,901 shares during the period. Finally, Norges Bank acquired a new stake in Canadian National Railway during the second quarter worth approximately $591,904,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.2%

CNI opened at $107.55 on Friday. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $108.75. The firm has a market capitalization of $65.94 billion, a PE ratio of 19.81, a P/E/G ratio of 2.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47. The company’s 50-day moving average is $99.48 and its 200 day moving average is $96.43.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS. As a group, 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, March 10th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is currently 46.59%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CNI shares. Zacks Research raised Canadian National Railway from a “strong sell” rating to a “hold” rating in a research note on Friday, November 28th. BMO Capital Markets reiterated an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and boosted their target price for the company from $146.00 to $151.00 in a research report on Friday, November 28th. Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Finally, UBS Group downgraded shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Canadian National Railway has a consensus rating of “Moderate Buy” and an average target price of $118.91.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.