TD Asset Management Inc. Buys 309,210 Shares of 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% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,768,500 shares of the transportation company’s stock after acquiring an additional 309,210 shares during the period. Canadian National Railway accounts for 1.1% of TD Asset Management Inc.’s portfolio, making the stock its 17th largest holding. TD Asset Management Inc. owned approximately 1.87% of Canadian National Railway worth $1,194,443,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of CNI. Vanguard Group Inc. boosted its position in shares of Canadian National Railway by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 22,986,678 shares of the transportation company’s stock valued at $2,334,251,000 after acquiring an additional 101,228 shares during the last quarter. Wellington Management Group LLP raised its stake in Canadian National Railway by 4.4% during the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after purchasing an additional 790,420 shares in the last quarter. National Bank of Canada FI lifted its position in Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after purchasing an additional 2,137,948 shares during the last quarter. Fiera Capital Corp grew its stake in shares of Canadian National Railway by 2.6% in the 4th quarter. Fiera Capital Corp now owns 5,624,594 shares of the transportation company’s stock worth $570,550,000 after buying an additional 142,070 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Canadian National Railway by 12.6% in the 4th quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company’s stock worth $519,843,000 after buying an additional 571,967 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. upgraded Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Barclays cut their target price on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. TD Securities raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 13th. Royal Bank of Canada cut their price objective on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Finally, Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.19.

Canadian National Railway Trading Up 2.0 %

CNI opened at $98.73 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The stock’s fifty day moving average is $101.24 and its two-hundred day moving average is $106.99. The company 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. Canadian National Railway has a 52 week low of $93.64 and a 52 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 EPS 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%. Analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.6159 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio is presently 47.66%.

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.