Citigroup Inc. Has $24.79 Million Stake in Canadian National Railway Company $CNI

Citigroup Inc. raised its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 62.0% in the third quarter, HoldingsChannel.com reports. The fund owned 262,863 shares of the transportation company’s stock after purchasing an additional 100,629 shares during the quarter. Citigroup Inc.’s holdings in Canadian National Railway were worth $24,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Canadian National Railway by 1.6% in the third quarter. Vanguard Group Inc. now owns 24,300,252 shares of the transportation company’s stock valued at $2,291,562,000 after acquiring an additional 372,859 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Canadian National Railway by 26.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock valued at $695,048,000 after acquiring an additional 1,408,978 shares during the last quarter. Fiera Capital Corp raised its holdings in Canadian National Railway by 11.6% in the 3rd quarter. Fiera Capital Corp now owns 6,471,710 shares of the transportation company’s stock valued at $610,076,000 after buying an additional 671,127 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Canadian National Railway by 20.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock valued at $655,768,000 after acquiring an additional 1,051,977 shares during the last quarter. Finally, Norges Bank acquired a new position in Canadian National Railway during the 2nd quarter worth about $591,904,000. 80.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CNI shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Barclays dropped their price objective on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, February 2nd. Citigroup reduced their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Susquehanna boosted their price objective on Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Finally, Canadian Imperial Bank of Commerce upgraded shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and increased their target price for the stock from $146.00 to $151.00 in a research report on Friday, November 28th. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $118.91.

Canadian National Railway Trading Down 2.0%

NYSE CNI opened at $109.05 on Thursday. The stock’s 50-day simple moving average is $101.31 and its two-hundred day simple moving average is $97.33. The company has a market capitalization of $66.86 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 2.34 and a beta of 0.94. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $111.47. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the previous year, the business earned $1.82 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 annualized dividend and a dividend yield of 3.4%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is presently 46.59%.

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.