Alberta Investment Management Corp Invests $71.06 Million in Canadian National Railway Company $CNI

Alberta Investment Management Corp bought a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 718,500 shares of the transportation company’s stock, valued at approximately $71,064,000.

Several other large investors also recently made changes to their positions in the business. Lazard Asset Management LLC boosted its holdings in Canadian National Railway by 639,137.0% in the third quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock valued at $844,353,000 after acquiring an additional 8,954,310 shares during the last quarter. Norges Bank bought a new position in Canadian National Railway in the fourth quarter valued at about $570,161,000. Quadrature Capital Ltd boosted its holdings in Canadian National Railway by 1,693.5% in the third quarter. Quadrature Capital Ltd now owns 1,739,700 shares of the transportation company’s stock valued at $164,043,000 after acquiring an additional 1,642,700 shares during the last quarter. Deutsche Bank AG boosted its holdings in Canadian National Railway by 15.1% in the fourth quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company’s stock valued at $889,462,000 after acquiring an additional 1,182,106 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Canadian National Railway by 27.9% in the fourth quarter. Clearbridge Investments LLC now owns 4,481,206 shares of the transportation company’s stock valued at $442,967,000 after acquiring an additional 976,324 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Sanford C. Bernstein raised their price target on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a report on Tuesday, March 31st. Weiss Ratings cut Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Royal Bank Of Canada raised their price target on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Barclays raised their price target on Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the company from $117.00 to $122.00 in a report on Thursday, April 9th. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $122.04.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $117.47 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. The stock has a market cap of $71.27 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.28 and a beta of 0.96. The stock has a 50-day moving average of $113.59 and a 200-day moving average of $105.82. Canadian National Railway Company has a one year low of $90.74 and a one year high of $122.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, hitting analysts’ consensus estimates of $1.31. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.Canadian National Railway’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.85 earnings per share. As a group, sell-side analysts expect that Canadian National Railway Company will post 5.76 earnings per share for the current year.

Canadian National Railway Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.1%. Canadian National Railway’s dividend payout ratio (DPR) is currently 48.55%.

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.