American Century Companies Inc. Boosts Stock Position in Canadian National Railway Company $CNI

American Century Companies Inc. raised its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 22.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,347 shares of the transportation company’s stock after buying an additional 46,218 shares during the period. American Century Companies Inc.’s holdings in Canadian National Railway were worth $23,608,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CNI. Norges Bank purchased a new stake in Canadian National Railway during the second quarter worth approximately $591,904,000. Fisher Asset Management LLC acquired a new stake in Canadian National Railway during the second quarter worth approximately $189,748,000. Troy Asset Management Ltd raised its holdings in Canadian National Railway by 158.8% during the third quarter. Troy Asset Management Ltd now owns 2,738,372 shares of the transportation company’s stock worth $258,220,000 after purchasing an additional 1,680,223 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Canadian National Railway by 26.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock worth $695,048,000 after buying an additional 1,408,978 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted 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 worth $655,768,000 after buying an additional 1,051,977 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CNI shares. Evercore dropped their target price on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a research report on Monday, February 2nd. Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Canadian Imperial Bank of Commerce upgraded shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and upped their price objective for the company from $146.00 to $151.00 in a research note on Friday, November 28th. Stephens dropped their price objective on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. Finally, Royal Bank Of Canada reduced their target price on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.91.

Canadian National Railway Stock Up 1.2%

Shares of NYSE:CNI opened at $108.04 on Tuesday. The stock has a market cap of $66.24 billion, a P/E ratio of 19.90, a P/E/G ratio of 2.22 and a beta of 0.90. The firm has a fifty day moving average price of $103.16 and a 200 day moving average price of $98.29. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $113.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the business posted $1.82 earnings per share. Canadian National Railway’s quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 annualized dividend and a yield of 3.4%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio (DPR) is currently 46.59%.

Canadian National Railway Company Profile

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.