Canadian National Railway (NYSE:CNI) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,616,947 shares of the transportation company’s stock after purchasing an additional 240,847 shares during the quarter. JPMorgan Chase & Co. owned about 0.42% of Canadian National Railway worth $265,646,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Korea Investment CORP grew its position in Canadian National Railway by 45.4% in the fourth quarter. Korea Investment CORP now owns 357,045 shares of the transportation company’s stock worth $36,238,000 after acquiring an additional 111,454 shares during the period. Financial Counselors Inc. boosted its stake in Canadian National Railway by 27.8% during the fourth quarter. Financial Counselors Inc. now owns 2,301 shares of the transportation company’s stock worth $234,000 after buying an additional 501 shares during the period. Mufg Securities Canada LTD. increased its position in shares of Canadian National Railway by 71.9% during the fourth quarter. Mufg Securities Canada LTD. now owns 844,974 shares of the transportation company’s stock valued at $85,748,000 after acquiring an additional 353,358 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Canadian National Railway in the 4th quarter valued at approximately $52,000. Finally, TD Asset Management Inc. lifted its holdings in shares of Canadian National Railway by 2.7% in the 4th quarter. TD Asset Management Inc. now owns 11,768,500 shares of the transportation company’s stock worth $1,194,443,000 after acquiring an additional 309,210 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Down 2.4 %

Shares of Canadian National Railway stock opened at $97.39 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The company has a fifty day simple moving average of $101.07 and a 200-day simple moving average of $106.51. The stock has a market cap of $61.20 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 1.95 and a beta of 0.91. Canadian National Railway has a 12-month low of $93.64 and a 12-month high of $132.27.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. On average, equities analysts forecast that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.6159 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. This represents a $2.46 annualized dividend and a yield of 2.53%. Canadian National Railway’s payout ratio is 47.66%.

Analyst Ratings Changes

A number of brokerages have issued reports on CNI. Jefferies Financial Group raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Friday, January 10th. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. TD Securities raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Susquehanna reduced their price target on shares of Canadian National Railway from $115.00 to $113.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.02.

Canadian National Railway Company 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.