QV Investors Inc. Reduces Holdings in Canadian National Railway Company $CNI

QV Investors Inc. lowered its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 585,546 shares of the transportation company’s stock after selling 5,409 shares during the period. Canadian National Railway accounts for approximately 4.8% of QV Investors Inc.’s holdings, making the stock its 5th largest position. QV Investors Inc. owned about 0.09% of Canadian National Railway worth $55,230,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Canadian National Railway in the second quarter valued at approximately $591,904,000. Fisher Asset Management LLC bought a new stake in Canadian National Railway in the 2nd quarter valued at $189,748,000. The Manufacturers Life Insurance Company lifted 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 valued at $695,048,000 after purchasing an additional 1,408,978 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Canadian National Railway by 20.1% during 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. increased its holdings in shares of Canadian National Railway by 31.9% in the second 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 purchasing an additional 1,019,914 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.6%

Shares of CNI opened at $100.02 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 0.92. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $108.75. The firm’s 50 day moving average is $97.47 and its 200-day moving average is $96.43. The stock has a market capitalization of $61.46 billion, a PE ratio of 18.98, a P/E/G ratio of 2.07 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.05. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a return on equity of 21.50% and a net margin of 26.86%.The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 earnings per share. Equities research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Barclays raised their price objective on shares of Canadian National Railway from $97.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. 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 report on Monday, September 29th. Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Finally, CIBC raised Canadian National Railway from a “neutral” rating to an “outperformer” rating and lifted their price target for the stock from $146.00 to $151.00 in a report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $117.64.

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.