Canadian National Railway Company $CNI Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,626,147 shares of the transportation company’s stock after buying an additional 35,938 shares during the period. Canadian National Railway accounts for approximately 1.0% of Mackenzie Financial Corp’s portfolio, making the stock its 21st largest position. Mackenzie Financial Corp’s holdings in Canadian National Railway were worth $813,287,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Canadian National Railway by 1.6% during the third quarter. Vanguard Group Inc. now owns 24,300,252 shares of the transportation company’s stock worth $2,291,562,000 after buying an additional 372,859 shares during the last quarter. Bank of Montreal Can raised its stake in Canadian National Railway by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 14,201,675 shares of the transportation company’s stock valued at $1,338,948,000 after acquiring an additional 42,907 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Canadian National Railway by 26.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock valued at $695,048,000 after acquiring an additional 1,408,978 shares during the last quarter. Fiera Capital Corp lifted its position in Canadian National Railway by 11.6% during the 3rd quarter. Fiera Capital Corp now owns 6,471,710 shares of the transportation company’s stock worth $610,076,000 after acquiring an additional 671,127 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Canadian National Railway by 20.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock worth $655,768,000 after acquiring an additional 1,051,977 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE CNI opened at $106.42 on Wednesday. The stock has a market capitalization of $65.25 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 2.24 and a beta of 0.90. The business’s 50 day moving average is $103.30 and its two-hundred day moving average is $98.37. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $113.08. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the firm earned $1.82 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 3.4%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, March 10th. Canadian National Railway’s dividend payout ratio is 46.59%.

Wall Street Analysts Forecast Growth

CNI has been the topic of a number of recent research reports. Royal Bank Of Canada dropped their target price on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, February 2nd. Stephens decreased their price target on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, February 2nd. Vertical Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. BMO Capital Markets reissued an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Finally, Barclays cut their price objective on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating for the company in a research report on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.91.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.