Canadian National Railway Company $CNI Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 20.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,296,828 shares of the transportation company’s stock after purchasing an additional 1,051,977 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Canadian National Railway were worth $655,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. LPL Financial LLC grew its stake in Canadian National Railway by 6.5% in the 1st quarter. LPL Financial LLC now owns 105,638 shares of the transportation company’s stock valued at $10,296,000 after acquiring an additional 6,432 shares during the period. Arkadios Wealth Advisors purchased a new position in Canadian National Railway during the first quarter valued at $313,000. US Bancorp DE grew its position in shares of Canadian National Railway by 13.3% in the first quarter. US Bancorp DE now owns 85,676 shares of the transportation company’s stock valued at $8,350,000 after purchasing an additional 10,072 shares during the period. TIAA Trust National Association increased its stake in shares of Canadian National Railway by 8.4% during the first quarter. TIAA Trust National Association now owns 4,926 shares of the transportation company’s stock worth $480,000 after purchasing an additional 380 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Canadian National Railway by 1.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 69,430 shares of the transportation company’s stock worth $6,767,000 after purchasing an additional 910 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $95.58 on Tuesday. The business’s 50 day moving average price is $94.83 and its 200 day moving average price is $97.96. The company has a market cap of $58.93 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.13 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. Canadian National Railway Company has a one year low of $90.74 and a one year high of $111.67.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the company earned $1.72 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, research analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th will be given a dividend of $0.8875 per share. The ex-dividend date is Tuesday, December 9th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 annualized dividend and a yield of 3.7%. Canadian National Railway’s dividend payout ratio (DPR) is 48.01%.

Analyst Ratings Changes

Several research firms have commented on CNI. Evercore ISI boosted their price objective on Canadian National Railway from $98.00 to $103.00 and gave the stock an “in-line” rating in a research note on Monday, November 3rd. Bank of America lowered their price target on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Citigroup increased their price objective on Canadian National Railway from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Wall Street Zen upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Barclays lowered their target price on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $117.36.

Canadian National Railway Profile

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.