Troy Asset Management Ltd Acquires 1,680,223 Shares of Canadian National Railway Company $CNI

Troy Asset Management Ltd boosted its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 158.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,738,372 shares of the transportation company’s stock after acquiring an additional 1,680,223 shares during the quarter. Canadian National Railway accounts for approximately 6.6% of Troy Asset Management Ltd’s investment portfolio, making the stock its 5th biggest holding. Troy Asset Management Ltd owned 0.44% of Canadian National Railway worth $258,220,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Canadian National Railway by 3.3% in the second quarter. Vanguard Group Inc. now owns 23,927,393 shares of the transportation company’s stock valued at $2,493,163,000 after purchasing an additional 761,454 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Canadian National Railway by 26.6% in 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 buying an additional 1,408,978 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in 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 valued at $655,768,000 after acquiring an additional 1,051,977 shares in the last quarter. Fiera Capital Corp lifted its stake in Canadian National Railway by 6.0% during the 2nd quarter. Fiera Capital Corp now owns 5,800,583 shares of the transportation company’s stock valued at $604,025,000 after acquiring an additional 330,901 shares in the last quarter. Finally, Norges Bank purchased a new position in Canadian National Railway during the 2nd quarter worth $591,904,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

CNI has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, February 2nd. Canadian Imperial Bank of Commerce raised shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and lifted their target price for the stock from $146.00 to $151.00 in a research report on Friday, November 28th. Royal Bank Of Canada cut their target price on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, February 2nd. Susquehanna increased their price target on Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a research report on Monday, November 3rd. Finally, Evercore cut their price objective on 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. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian National Railway has a consensus rating of “Moderate Buy” and a consensus price target of $118.91.

Canadian National Railway Trading Up 0.2%

NYSE:CNI opened at $107.55 on Friday. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $108.75. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average is $99.48 and its 200 day moving average is $96.44. The stock has a market capitalization of $65.94 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94.

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

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.915 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is 49.36%.

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.