Price T Rowe Associates Inc. MD Acquires 125,949 Shares of Canadian National Railway (NYSE:CNI)

Price T Rowe Associates Inc. MD grew its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,986,555 shares of the transportation company’s stock after purchasing an additional 125,949 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Canadian National Railway were worth $525,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bfsg LLC raised its holdings in shares of Canadian National Railway by 110.5% during the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 105 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 207 shares in the last quarter. Keener Financial Planning LLC bought a new position in shares of Canadian National Railway during the 4th quarter valued at $46,000. Rational Advisors LLC bought a new position in shares of Canadian National Railway during the 1st quarter valued at $49,000. Finally, Knuff & Co LLC bought a new position in shares of Canadian National Railway during the 4th quarter valued at $50,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Down 0.5 %

Shares of CNI traded down $0.59 on Monday, reaching $114.86. 151,079 shares of the company’s stock were exchanged, compared to its average volume of 1,081,073. The business has a 50 day moving average price of $121.28 and a two-hundred day moving average price of $125.50. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The stock has a market capitalization of $72.30 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the prior year, the company earned $1.31 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Research analysts anticipate that Canadian National Railway will post 5.69 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a $0.614 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.14%. Canadian National Railway’s dividend payout ratio is currently 39.23%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Bank of America upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $145.00 in a report on Wednesday, April 10th. Wells Fargo & Company dropped their target price on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. StockNews.com lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Barclays decreased their price target on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, National Bank Financial upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Eighteen investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average target price of $138.35.

About Canadian National Railway

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.