Arrowstreet Capital Limited Partnership Purchases 173,410 Shares of Canadian National Railway Company $CNI

Arrowstreet Capital Limited Partnership boosted its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 2.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,165,148 shares of the transportation company’s stock after buying an additional 173,410 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.01% of Canadian National Railway worth $609,582,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. High Point Wealth Management LLC bought a new position in Canadian National Railway in the 4th quarter worth $27,000. Curio Wealth LLC bought a new position in Canadian National Railway in the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd raised its holdings in Canadian National Railway by 378.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after purchasing an additional 280 shares in the last quarter. Leonteq Securities AG bought a new position in Canadian National Railway in the 4th quarter worth $39,000. Finally, Fulcrum Asset Management LLP bought a new position in Canadian National Railway in the 3rd quarter worth $51,000. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNI has been the subject of several research reports. Weiss Ratings lowered shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Citigroup upped their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Barclays upped their price objective on shares of Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce upped their price objective on shares of Canadian National Railway from C$164.00 to C$182.00 and gave the stock an “outperformer” rating in a report on Tuesday, June 9th. Finally, Sanford C. Bernstein upped their price objective on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $122.04.

Canadian National Railway Stock Up 0.6%

NYSE:CNI opened at $119.02 on Friday. The firm’s 50-day moving average price is $113.32 and its 200-day moving average price is $105.54. The company has a market capitalization of $72.21 billion, a PE ratio of 21.64, a P/E/G ratio of 2.28 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $122.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.31. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.85 EPS. On average, equities analysts predict that Canadian National Railway Company will post 5.76 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a $0.915 dividend. 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 is currently 48.55%.

About Canadian National Railway

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.