Clean Energy Transition LLP acquired a new position in shares of Canadian National Railway Company (NYSE:CNI – Free Report) (TSE:CNR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 478,184 shares of the transportation company’s stock, valued at approximately $47,268,000. Canadian National Railway accounts for approximately 3.9% of Clean Energy Transition LLP’s portfolio, making the stock its 9th largest position. Clean Energy Transition LLP owned 0.08% of Canadian National Railway at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Canadian National Railway by 1.4% during the 4th 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 during the period. Bank of Montreal Can increased its stake in Canadian National Railway by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 14,201,675 shares of the transportation company’s stock worth $1,338,948,000 after acquiring an additional 42,907 shares during the period. Caisse de depot et placement du Quebec increased its stake in Canadian National Railway by 1.1% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company’s stock worth $1,310,600,000 after acquiring an additional 157,000 shares during the period. Deutsche Bank AG increased its stake in 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 worth $889,462,000 after acquiring an additional 1,182,106 shares during the period. Finally, Lazard Asset Management LLC increased its stake in 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 worth $844,353,000 after acquiring an additional 8,954,310 shares during the period. Institutional investors own 80.74% of the company’s stock.
Analyst Ratings Changes
CNI has been the topic of a number of recent research reports. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $117.00 to $122.00 in a research note on Thursday, April 9th. Barclays raised their price objective on Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Citigroup raised their price objective on Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Weiss Ratings lowered Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada boosted their price objective on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $122.04.
Canadian National Railway Stock Up 0.6%
Shares of CNI opened at $119.02 on Friday. The company has a market capitalization of $72.21 billion, a PE ratio of 21.64, a PEG ratio of 2.28 and a beta of 0.96. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $122.48. The stock’s 50-day moving average price is $113.32 and its two-hundred day moving average price is $105.54. 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 (NYSE:CNI – Get Free Report) (TSE:CNR) last announced 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 firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 EPS. On average, analysts anticipate that Canadian National Railway Company will post 5.76 EPS for the current year.
Canadian National Railway Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 3.1%. Canadian National Railway’s payout ratio is presently 48.55%.
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.
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