Tudor Financial Inc. increased its stake in shares of Canadian National Railway Company (NYSE:CNI – Free Report) (TSE:CNR) by 425.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 16,740 shares of the transportation company’s stock after purchasing an additional 13,554 shares during the quarter. Tudor Financial Inc.’s holdings in Canadian National Railway were worth $1,996,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Syon Capital LLC grew its holdings in shares of Canadian National Railway by 4.2% during the second quarter. Syon Capital LLC now owns 4,722 shares of the transportation company’s stock worth $563,000 after purchasing an additional 192 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Canadian National Railway by 2.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 4,297,955 shares of the transportation company’s stock valued at $514,643,000 after purchasing an additional 116,530 shares during the last quarter. Greenspring Advisors LLC purchased a new stake in shares of Canadian National Railway in the 2nd quarter valued at about $254,000. Ewing Morris & Co. Investment Partners Ltd. boosted its position in shares of Canadian National Railway by 21.2% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 5,956 shares of the transportation company’s stock valued at $711,000 after purchasing an additional 1,043 shares during the period. Finally, Nykredit A S acquired a new stake in shares of Canadian National Railway in the 2nd quarter valued at about $24,183,000. 80.74% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on CNI. Evercore raised Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price target on the stock in a research report on Thursday, June 25th. Canadian Imperial Bank of Commerce increased their price objective on Canadian National Railway from C$182.00 to C$185.00 and gave the company an “outperformer” rating in a report on Thursday, June 25th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Monday, July 27th. Weiss Ratings raised shares of Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Finally, Barclays lifted their target price on shares of Canadian National Railway from $109.00 to $130.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.40.
Canadian National Railway Price Performance
Canadian National Railway stock opened at $123.13 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. The business has a 50 day simple moving average of $125.68 and a 200-day simple moving average of $116.12. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $131.55. The stock has a market capitalization of $74.51 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 2.17 and a beta of 0.94.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last posted its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.26 billion. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. Canadian National Railway’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm posted $1.87 EPS. Equities analysts predict that Canadian National Railway Company will post 5.82 earnings per share for the current year.
Canadian National Railway Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th will be paid a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio (DPR) is 47.34%.
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.
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