Connor Clark & Lunn Investment Management Ltd. Acquires 1,019,914 Shares of Canadian National Railway Company $CNI

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 31.9% in the second quarter, HoldingsChannel reports. The fund owned 4,220,150 shares of the transportation company’s stock after buying an additional 1,019,914 shares during the quarter. Canadian National Railway makes up about 1.5% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 8th largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Canadian National Railway were worth $440,008,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in Canadian National Railway by 0.8% during the first quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company’s stock worth $2,254,370,000 after purchasing an additional 179,261 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Canadian National Railway by 2.3% during the 2nd quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock valued at $1,255,385,000 after buying an additional 273,974 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Canadian National Railway by 6.0% during the 1st quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company’s stock worth $1,095,793,000 after buying an additional 636,147 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Canadian National Railway by 6.3% during the 1st quarter. Mackenzie Financial Corp now owns 8,571,806 shares of the transportation company’s stock worth $834,129,000 after buying an additional 505,588 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Canadian National Railway by 20.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock worth $646,983,000 after buying an additional 1,148,569 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNI has been the subject of a number of research reports. Bank of America lowered their price target on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. National Bank Financial downgraded shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 23rd. Zacks Research cut shares of Canadian National Railway from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Raymond James Financial upgraded shares of Canadian National Railway from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 17th. Finally, Evercore ISI raised their target price on shares of Canadian National Railway from $98.00 to $103.00 and gave the company an “in-line” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $114.00.

Canadian National Railway Trading Up 0.5%

CNI opened at $95.00 on Friday. The firm’s 50 day moving average is $94.92 and its 200-day moving average is $98.61. Canadian National Railway Company has a 52-week low of $91.07 and a 52-week high of $113.08. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $58.78 billion, a P/E ratio of 18.27, a P/E/G ratio of 2.13 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the business earned $1.72 EPS. The business’s revenue was up 1.3% on a year-over-year basis. Analysts expect that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be given a dividend of $0.8875 per share. The ex-dividend date of this dividend is Tuesday, December 9th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.7%. Canadian National Railway’s dividend payout ratio is presently 48.01%.

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.