Lincoln National Corp increased its position in shares of Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) by 25.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,259 shares of the transportation company’s stock after acquiring an additional 452 shares during the period. Lincoln National Corp’s holdings in Canadian National Railway were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Oppenheimer & Co. Inc. boosted its holdings in Canadian National Railway by 6.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 24,368 shares of the transportation company’s stock valued at $2,897,000 after purchasing an additional 1,428 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Canadian National Railway by 1.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 546,144 shares of the transportation company’s stock valued at $64,926,000 after purchasing an additional 9,093 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Canadian National Railway by 9.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,017 shares of the transportation company’s stock worth $474,000 after purchasing an additional 330 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Canadian National Railway by 180.5% during the 4th quarter. National Bank of Canada FI now owns 5,977,754 shares of the transportation company’s stock worth $709,550,000 after acquiring an additional 3,846,281 shares in the last quarter. Finally, Rempart Asset Management Inc. boosted its position in Canadian National Railway by 4.0% in the first quarter. Rempart Asset Management Inc. now owns 187,775 shares of the transportation company’s stock valued at $22,135,000 after buying an additional 7,230 shares in the last quarter. 64.89% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on CNI. Scotiabank boosted their price target on shares of Canadian National Railway from C$169.00 to C$172.00 in a report on Thursday, May 4th. Morgan Stanley raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating in a research report on Thursday, May 4th. Credit Suisse Group lifted their price target on shares of Canadian National Railway from $126.00 to $133.00 in a research note on Tuesday, April 25th. Raymond James lowered their price target on shares of Canadian National Railway from C$190.00 to C$180.00 in a report on Wednesday. Finally, BMO Capital Markets cut their price objective on shares of Canadian National Railway from C$177.00 to C$175.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $145.71.
Canadian National Railway Price Performance
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last issued its quarterly earnings data on Monday, April 24th. The transportation company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Canadian National Railway had a return on equity of 24.21% and a net margin of 30.21%. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Equities research analysts expect that Canadian National Railway will post 5.75 earnings per share for the current year.
Canadian National Railway Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.5996 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, September 7th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.58. Canadian National Railway’s dividend payout ratio is 40.58%.
About Canadian National Railway
Canadian National Railway Company, together with its subsidiaries, engages in rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.
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