LGT Fund Management Co Ltd. raised its stake in shares of Canadian National Railway Company (NYSE:CNI – Free Report) (TSE:CNR) by 98.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 40,889 shares of the transportation company’s stock after purchasing an additional 20,249 shares during the period. LGT Fund Management Co Ltd.’s holdings in Canadian National Railway were worth $4,209,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in Canadian National Railway during the first quarter worth $311,000. Focus Partners Wealth lifted its stake in Canadian National Railway by 11.1% during the 1st quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock valued at $1,122,000 after acquiring an additional 1,146 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Canadian National Railway during the 2nd quarter worth $202,000. EverSource Wealth Advisors LLC grew its stake in shares of Canadian National Railway by 52.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock worth $116,000 after acquiring an additional 383 shares in the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Canadian National Railway by 2.9% in the 2nd quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock worth $1,778,000 after acquiring an additional 474 shares in the last quarter. 80.74% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Citigroup raised their price target on shares of Canadian National Railway from $124.00 to $141.00 and gave the company a “buy” rating in a research report on Thursday. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a research note on Thursday, June 25th. Sanford C. Bernstein lifted their target price on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research report on Tuesday, March 31st. Barclays upped their target price on Canadian National Railway from $99.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Finally, Weiss Ratings downgraded Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.94.
Canadian National Railway Stock Performance
Shares of NYSE:CNI traded up $0.12 during mid-day trading on Friday, reaching $124.46. The company had a trading volume of 1,332,513 shares, compared to its average volume of 1,369,770. Canadian National Railway Company has a one year low of $90.74 and a one year high of $125.26. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $116.99 and its 200-day moving average price is $108.65. The firm has a market cap of $75.51 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 2.34 and a beta of 0.96.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, meeting the consensus estimate of $1.31. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.Canadian National Railway’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.85 earnings per share. As a group, equities research analysts anticipate that Canadian National Railway Company will post 5.72 EPS for the current fiscal year.
Canadian National Railway Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a $0.915 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 2.9%. Canadian National Railway’s dividend payout ratio (DPR) is 48.55%.
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.
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