Geode Capital Management LLC Has $340.99 Million Stake in Canadian National Railway (NYSE:CNI)

Geode Capital Management LLC increased its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 29.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,306,192 shares of the transportation company’s stock after purchasing an additional 743,712 shares during the quarter. Geode Capital Management LLC owned approximately 0.53% of Canadian National Railway worth $340,987,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNI. Edmond DE Rothschild Holding S.A. increased its stake in shares of Canadian National Railway by 6.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 39,016 shares of the transportation company’s stock worth $3,958,000 after acquiring an additional 2,219 shares during the last quarter. Clearbridge Investments LLC increased its position in Canadian National Railway by 11.2% in the 4th quarter. Clearbridge Investments LLC now owns 1,281,715 shares of the transportation company’s stock worth $130,107,000 after purchasing an additional 128,966 shares during the last quarter. ClearBridge Investments Ltd raised its stake in shares of Canadian National Railway by 73.2% during the 4th quarter. ClearBridge Investments Ltd now owns 804,212 shares of the transportation company’s stock worth $81,636,000 after purchasing an additional 339,774 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Canadian National Railway by 29.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company’s stock valued at $488,488,000 after buying an additional 1,102,977 shares during the last quarter. Finally, Allianz SE bought a new stake in shares of Canadian National Railway in the 4th quarter valued at approximately $465,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

NYSE CNI opened at $96.61 on Friday. The company’s fifty day moving average is $100.46 and its two-hundred day moving average is $105.95. Canadian National Railway has a 52-week low of $93.64 and a 52-week high of $132.27. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. The firm has a market capitalization of $60.71 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.95 and a beta of 0.93.

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

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $0.6159 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.55%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Monday, March 10th. Canadian National Railway’s dividend payout ratio is presently 47.66%.

Wall Street Analyst Weigh In

CNI has been the subject of a number of analyst reports. Susquehanna reduced their target price on shares of Canadian National Railway from $115.00 to $113.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. Bank of America decreased their price objective on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. TD Securities upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada lowered their price objective on Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.36.

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.