Elevation Point Wealth Partners LLC Acquires Shares of 6,164 Canadian National Railway Company $CNI

Elevation Point Wealth Partners LLC bought a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 6,164 shares of the transportation company’s stock, valued at approximately $633,000.

Several other hedge funds have also recently made changes to their positions in the business. Lincluden Management Ltd. boosted its holdings in shares of Canadian National Railway by 4.1% in the 3rd quarter. Lincluden Management Ltd. now owns 434,344 shares of the transportation company’s stock valued at $40,717,000 after buying an additional 17,257 shares in the last quarter. Kensington Investment Counsel LLC purchased a new stake in Canadian National Railway during the third quarter valued at approximately $3,079,000. Scharf Investments LLC purchased a new stake in Canadian National Railway during the fourth quarter valued at approximately $8,283,000. CIBC Bancorp USA Inc. acquired a new stake in Canadian National Railway in the third quarter valued at approximately $32,174,000. Finally, Fisher Asset Management LLC grew its holdings in Canadian National Railway by 10.5% in the fourth quarter. Fisher Asset Management LLC now owns 2,279,778 shares of the transportation company’s stock worth $225,356,000 after purchasing an additional 216,963 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CNI. Bank of America upped their price target on Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada boosted their target price on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Citigroup upped their target price on Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Evercore upgraded Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price target for the company in a research note on Thursday, June 25th. Finally, Sanford C. Bernstein raised their price target on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.12.

Canadian National Railway Trading Up 0.9%

NYSE:CNI opened at $122.81 on Wednesday. The company has a market capitalization of $74.51 billion, a P/E ratio of 22.33, a PEG ratio of 2.29 and a beta of 0.96. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $123.00. The firm has a fifty day simple moving average of $116.32 and a 200-day simple moving average of $108.19.

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 (EPS) for the quarter, meeting the consensus estimate of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the firm earned $1.85 EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, equities research analysts anticipate that Canadian National Railway Company will post 5.75 earnings per share for the current year.

Canadian National Railway Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were paid a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, June 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 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.