Arrowstreet Capital Limited Partnership Sells 1,436,646 Shares of Canadian National Railway Company $CNI

Arrowstreet Capital Limited Partnership lowered its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 23.3% in the 1st quarter, HoldingsChannel reports. The fund owned 4,728,502 shares of the transportation company’s stock after selling 1,436,646 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Canadian National Railway were worth $486,324,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CNI. Vanguard Group Inc. lifted its position in shares of Canadian National Railway by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 24,646,922 shares of the transportation company’s stock worth $2,437,679,000 after acquiring an additional 346,670 shares in the last quarter. FIL Ltd grew its position in shares of Canadian National Railway by 49.5% in the fourth quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock valued at $1,557,309,000 after purchasing an additional 5,210,403 shares in the last quarter. Caisse de depot et placement du Quebec grew its position in shares of Canadian National Railway by 1.1% in the third quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company’s stock valued at $1,310,600,000 after purchasing an additional 157,000 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Canadian National Railway by 15.1% during the 4th quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company’s stock valued at $889,462,000 after purchasing an additional 1,182,106 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of Canadian National Railway by 639,137.0% during the 3rd quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock valued at $844,353,000 after purchasing an additional 8,954,310 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Trading Up 2.1%

Shares of CNI stock opened at $130.54 on Friday. The company has a market capitalization of $79.11 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 2.44 and a beta of 0.96. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $131.21. The business’s fifty day moving average is $119.80 and its 200 day moving average is $110.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, hitting the consensus estimate of $1.31. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.85 earnings per share. On average, equities research analysts anticipate that Canadian National Railway Company will post 5.67 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were given a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, June 9th. Canadian National Railway’s dividend payout ratio (DPR) is 48.55%.

Wall Street Analyst Weigh In

CNI has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Canadian National Railway from $110.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Canadian Imperial Bank of Commerce upped their price target on Canadian National Railway from C$182.00 to C$185.00 and gave the company an “outperformer” rating in a research report on Thursday, June 25th. Susquehanna reissued a “neutral” rating and issued a $140.00 price target (up from $138.00) on shares of Canadian National Railway in a report on Tuesday, July 14th. Sanford C. Bernstein raised their price objective on shares of Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. Finally, Royal Bank Of Canada boosted their price objective on shares of Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.12.

Canadian National Railway 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.