Canadian National Railway (NYSE:CNI) Holdings Increased by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 17.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 494,511 shares of the transportation company’s stock after purchasing an additional 74,278 shares during the quarter. Canadian National Railway accounts for approximately 4.0% of Scheer Rowlett & Associates Investment Management Ltd.’s investment portfolio, making the stock its 8th largest holding. Scheer Rowlett & Associates Investment Management Ltd. owned approximately 0.08% of Canadian National Railway worth $57,900,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. 1832 Asset Management L.P. lifted its holdings in Canadian National Railway by 7.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after buying an additional 674,536 shares in the last quarter. Capital International Investors raised its stake in shares of Canadian National Railway by 18.1% during the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after acquiring an additional 1,379,976 shares in the last quarter. JARISLOWSKY FRASER Ltd boosted its holdings in shares of Canadian National Railway by 1.2% in the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock valued at $1,017,315,000 after purchasing an additional 99,716 shares during the period. Fiera Capital Corp grew its stake in Canadian National Railway by 0.7% in the third quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock worth $642,828,000 after purchasing an additional 39,063 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Canadian National Railway by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock worth $570,667,000 after purchasing an additional 120,453 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the stock from $126.00 to $130.00 in a report on Tuesday, November 12th. Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research note on Monday, October 7th. Veritas upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Evercore ISI reduced their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. Finally, Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $129.00 to $122.00 in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $125.48.

Canadian National Railway Stock Performance

Shares of NYSE:CNI traded down $0.40 on Wednesday, hitting $106.31. 121,548 shares of the company were exchanged, compared to its average volume of 1,116,266. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average price is $113.69 and its 200 day moving average price is $117.47. The firm has a market capitalization of $66.95 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. Canadian National Railway has a 1-year low of $106.17 and a 1-year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. Sell-side analysts predict that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is currently 39.26%.

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.