Public Sector Pension Investment Board Has $38.76 Million Stake in Canadian National Railway Company $CNI

Public Sector Pension Investment Board raised its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 668.2% in the third quarter, HoldingsChannel.com reports. The firm owned 410,879 shares of the transportation company’s stock after purchasing an additional 357,392 shares during the quarter. Public Sector Pension Investment Board’s holdings in Canadian National Railway were worth $38,755,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. 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 position in Canadian National Railway during the 2nd quarter worth $189,748,000. The Manufacturers Life Insurance Company increased its stake 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 worth $695,048,000 after acquiring an additional 1,408,978 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Canadian National Railway by 20.1% in 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. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Canadian National Railway by 31.9% during the 2nd 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 acquiring an additional 1,019,914 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Barclays reduced their target price on Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. Wall Street Zen raised shares of Canadian National Railway from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Citigroup dropped their target price on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Royal Bank Of Canada cut their price target on shares of Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Finally, UBS Group cut shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Stock Up 0.9%

CNI stock opened at $107.32 on Friday. The firm has a 50-day moving average price of $99.29 and a 200-day moving average price of $96.35. 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 stock has a market capitalization of $65.80 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 2.23 and a beta of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 EPS. As a group, equities research 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 will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a dividend yield of 3.4%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is currently 46.59%.

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.