Troy Asset Management Ltd Raises Position in Canadian National Railway Company $CNI

Troy Asset Management Ltd increased its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 158.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,738,372 shares of the transportation company’s stock after buying an additional 1,680,223 shares during the quarter. Canadian National Railway makes up about 6.6% of Troy Asset Management Ltd’s portfolio, making the stock its 5th largest position. Troy Asset Management Ltd’s holdings in Canadian National Railway were worth $258,220,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Canadian National Railway in the second quarter worth about $591,904,000. Fisher Asset Management LLC purchased a new position in Canadian National Railway during the second quarter valued at approximately $189,748,000. The Manufacturers Life Insurance Company increased its holdings in 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 acquiring an additional 1,408,978 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Canadian National Railway by 20.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock worth $655,768,000 after purchasing an additional 1,051,977 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Canadian National Railway by 31.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,220,150 shares of the transportation company’s stock valued at $440,008,000 after acquiring an additional 1,019,914 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.2%

Shares of Canadian National Railway stock opened at $107.55 on Friday. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $108.75. The firm has a market cap of $65.94 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.26 and a beta of 0.94. The company has a 50-day moving average of $99.48 and a 200 day moving average of $96.44. 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 (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, topping 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 business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the prior year, the company earned $1.82 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be paid a $0.915 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Canadian National Railway’s payout ratio is currently 49.36%.

Wall Street Analyst Weigh In

CNI has been the subject of a number of research reports. Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Wall Street Zen raised shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Barclays dropped their target price on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Monday, February 2nd. Finally, Stephens reduced their price target on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, February 2nd. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $118.91.

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.