Fiera Capital Corp Boosts Stock Position in Canadian National Railway (NYSE:CNI)

Fiera Capital Corp raised its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 13.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,443,461 shares of the transportation company’s stock after buying an additional 638,817 shares during the quarter. Canadian National Railway comprises about 2.0% of Fiera Capital Corp’s investment portfolio, making the stock its 13th largest holding. Fiera Capital Corp owned approximately 0.86% of Canadian National Railway worth $643,503,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN grew its holdings in Canadian National Railway by 61.1% in the fourth quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock worth $20,375,000 after purchasing an additional 61,498 shares during the last quarter. Royal London Asset Management Ltd. increased its position in Canadian National Railway by 1.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock valued at $201,351,000 after buying an additional 17,083 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Canadian National Railway during the 2nd quarter valued at about $134,096,000. Koshinski Asset Management Inc. acquired a new stake in Canadian National Railway in the first quarter worth about $627,000. Finally, Virtu Financial LLC acquired a new stake in Canadian National Railway in the fourth quarter worth about $816,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Up 0.7 %

Shares of NYSE:CNI opened at $117.82 on Tuesday. The firm has a market capitalization of $74.19 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 2.40 and a beta of 0.88. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The firm’s 50-day moving average is $116.31 and its two-hundred day moving average is $123.31.

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 (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Analysts predict that Canadian National Railway will post 5.63 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.08%. Canadian National Railway’s payout ratio is currently 39.23%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Sanford C. Bernstein downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $146.25 to $130.67 in a research note on Monday, July 8th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Stifel Nicolaus dropped their price target on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Finally, Barclays cut their price target on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Sixteen analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Canadian National Railway currently has an average rating of “Hold” and an average price target of $138.35.

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.