TCI Fund Management Ltd. Decreases Stake in Canadian National Railway Company $CNI

TCI Fund Management Ltd. decreased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 14.5% during the 2nd quarter, Holdings Channel reports. The firm owned 22,989,066 shares of the transportation company’s stock after selling 3,910,012 shares during the period. Canadian National Railway comprises about 4.7% of TCI Fund Management Ltd.’s holdings, making the stock its 7th biggest holding. TCI Fund Management Ltd.’s holdings in Canadian National Railway were worth $2,394,410,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Canadian National Railway during the 2nd quarter valued at $591,904,000. Kingstone Capital Partners Texas LLC purchased a new position in Canadian National Railway during the 2nd quarter valued at $310,489,000. Fisher Asset Management LLC bought a new position in Canadian National Railway in the 2nd quarter valued at $189,748,000. The Manufacturers Life Insurance Company lifted its position in shares of Canadian National Railway by 37.3% during the first quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company’s stock worth $518,260,000 after purchasing an additional 1,439,617 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Canadian National Railway during the first quarter valued at $112,216,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CNI. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Wall Street Zen raised Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Bank of America decreased their target price on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Royal Bank Of Canada upped their price objective on Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Finally, Cibc Captl Mkts raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $117.36.

Canadian National Railway Stock Up 0.1%

Shares of CNI stock opened at $98.26 on Tuesday. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $108.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.42 and a current ratio of 0.60. The business’s fifty day moving average is $95.35 and its 200-day moving average is $97.64. The stock has a market cap of $60.58 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 2.22 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.28 by $0.05. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th will be issued a $0.8875 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is 49.53%.

Canadian National Railway 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.