Pictet Asset Management Ltd. bought a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 682,225 shares of the transportation company’s stock, valued at approximately $61,172,000. Pictet Asset Management Ltd. owned about 0.09% of Canadian National Railway at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in CNI. Zions Bancorporation acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $102,000. Palo Capital Inc. acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $114,000. Girard Partners LTD. acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $131,000. Quad Cities Investment Group LLC acquired a new position in shares of Canadian National Railway in the 2nd quarter valued at $165,000. Finally, First Hawaiian Bank acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $175,000. Institutional investors own 53.77% of the company’s stock.
CNI opened at $85.03 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.72. Canadian National Railway has a twelve month low of $70.59 and a twelve month high of $91.90. The stock has a market capitalization of $62.42 billion, a PE ratio of 22.14, a PEG ratio of 2.19 and a beta of 0.97.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 23rd. The transportation company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.38. Canadian National Railway had a net margin of 42.06% and a return on equity of 22.67%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. Analysts expect that Canadian National Railway will post 4.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be issued a $0.3477 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.39 annualized dividend and a dividend yield of 1.64%. Canadian National Railway’s dividend payout ratio is presently 35.94%.
A number of equities analysts have recently issued reports on CNI shares. Bank of America cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Tuesday, September 25th. Zacks Investment Research cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. Credit Suisse Group increased their price objective on shares of Canadian National Railway from $91.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, October 24th. Finally, BMO Capital Markets cut shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 5th. They noted that the move was a valuation call. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $91.53.
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Canadian National Railway Profile
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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