Sienna Gestion Purchases New Holdings in Canadian National Railway (NYSE:CNI)

Sienna Gestion purchased a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 44,700 shares of the transportation company’s stock, valued at approximately $5,278,000.

A number of other hedge funds also recently modified their holdings of CNI. Vanguard Group Inc. lifted its position in Canadian National Railway by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock worth $2,813,534,000 after purchasing an additional 387,975 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Canadian National Railway by 9.6% during the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after acquiring an additional 1,907,938 shares during the period. FIL Ltd boosted its position in shares of Canadian National Railway by 7.2% during the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after acquiring an additional 1,280,726 shares in the last quarter. TD Asset Management Inc increased its stake in Canadian National Railway by 2.8% in the fourth quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock valued at $1,471,733,000 after acquiring an additional 314,600 shares during the period. Finally, Capital International Investors raised its position in Canadian National Railway by 18.1% in the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after purchasing an additional 1,379,976 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Down 1.7 %

CNI stock opened at $117.00 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a market cap of $73.68 billion, a P/E ratio of 18.66, a PEG ratio of 2.56 and a beta of 0.88. The business has a fifty day moving average of $116.30 and a 200-day moving average of $122.31.

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). The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.31 earnings per share. As a group, equities research analysts expect that Canadian National Railway will post 5.58 EPS 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 2.10%. Canadian National Railway’s dividend payout ratio is currently 39.08%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNI. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Wells Fargo & Company lowered their price target on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. Sanford C. Bernstein downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $146.25 to $130.67 in a research note on Monday, July 8th. Finally, Susquehanna lowered their target price on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Sixteen equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $137.35.

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.