Canadian National Railway Company $CNI Stock Holdings Boosted by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 12.0% during the third quarter, Holdings Channel reports. The institutional investor owned 58,426 shares of the transportation company’s stock after buying an additional 6,272 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Canadian National Railway were worth $5,508,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. TD Asset Management Inc raised its position in Canadian National Railway by 2.3% in the second quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock worth $1,255,385,000 after acquiring an additional 273,974 shares in the last quarter. Founders Capital Management LLC acquired a new position in shares of Canadian National Railway in the 2nd quarter worth approximately $3,335,000. Westerkirk Capital Inc. bought a new stake in shares of Canadian National Railway in the 2nd quarter worth approximately $3,448,000. Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of Canadian National Railway by 9.8% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 802,257 shares of the transportation company’s stock worth $83,646,000 after purchasing an additional 71,364 shares in the last quarter. Finally, Ninety One UK Ltd lifted its stake in Canadian National Railway by 7.9% during the second quarter. Ninety One UK Ltd now owns 2,050,826 shares of the transportation company’s stock valued at $213,259,000 after purchasing an additional 149,484 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $100.09 on Monday. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $108.75. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 0.92. The stock has a market cap of $61.50 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.09 and a beta of 0.96. The business has a fifty day simple moving average of $97.23 and a 200-day simple moving average of $96.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.05. Canadian National Railway had a return on equity of 21.50% and a net margin of 26.86%.The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. Canadian National Railway’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th were given a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, December 9th. Canadian National Railway’s payout ratio is currently 48.01%.

Analyst Ratings Changes

CNI has been the topic of several recent research reports. Wall Street Zen upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research report 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 report on Monday, September 29th. Royal Bank Of Canada upped their target price on Canadian National Railway from $148.00 to $158.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Finally, Cibc Captl Mkts upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.64.

Canadian National Railway 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.