TD Asset Management Inc. Raises Stock Holdings in Canadian National Railway (NYSE:CNI)

TD Asset Management Inc. boosted its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,768,500 shares of the transportation company’s stock after purchasing an additional 309,210 shares during the quarter. Canadian National Railway makes up about 1.1% of TD Asset Management Inc.’s investment portfolio, making the stock its 17th biggest position. TD Asset Management Inc.’s holdings in Canadian National Railway were worth $1,194,443,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Canadian National Railway by 48.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after buying an additional 108 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in Canadian National Railway by 4.2% in the fourth quarter. Crestwood Advisors Group LLC now owns 2,814 shares of the transportation company’s stock valued at $286,000 after acquiring an additional 114 shares in the last quarter. Lowe Brockenbrough & Co. Inc. grew its holdings in Canadian National Railway by 1.2% in the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 11,492 shares of the transportation company’s stock worth $1,167,000 after purchasing an additional 139 shares during the last quarter. Addison Advisors LLC grew its holdings in Canadian National Railway by 80.2% in the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock worth $32,000 after purchasing an additional 142 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Canadian National Railway by 5.0% during the fourth quarter. Harbour Investments Inc. now owns 3,302 shares of the transportation company’s stock worth $335,000 after purchasing an additional 156 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Performance

NYSE CNI opened at $98.73 on Tuesday. The firm has a market capitalization of $62.04 billion, a P/E ratio of 19.28, a PEG ratio of 1.95 and a beta of 0.91. The stock has a 50-day simple moving average of $101.24 and a two-hundred day simple moving average of $106.99. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. Canadian National Railway has a fifty-two week low of $93.64 and a fifty-two week high of $132.73.

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

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.6159 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio is 47.66%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Royal Bank of Canada dropped their price target on Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Stifel Nicolaus increased their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their price target on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, January 13th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $124.19.

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.