AlphaCore Capital LLC Acquires New Shares in Canadian National Railway Company $CNI

AlphaCore Capital LLC acquired a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 1,395 shares of the transportation company’s stock, valued at approximately $145,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Canadian National Railway by 3.3% during the second quarter. Vanguard Group Inc. now owns 23,927,393 shares of the transportation company’s stock worth $2,493,163,000 after purchasing an additional 761,454 shares during the period. TD Asset Management Inc lifted its stake in Canadian National Railway by 2.3% during the second quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock worth $1,255,385,000 after purchasing an additional 273,974 shares during the last quarter. 1832 Asset Management L.P. raised its stake in Canadian National Railway by 6.0% during the first quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company’s stock worth $1,095,793,000 after acquiring an additional 636,147 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Canadian National Railway by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock valued at $646,983,000 after purchasing an additional 1,148,569 shares during the period. Finally, Deutsche Bank AG grew its stake in Canadian National Railway by 8.0% during the 1st quarter. Deutsche Bank AG now owns 6,155,864 shares of the transportation company’s stock worth $599,951,000 after buying an additional 454,439 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNI has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Canadian National Railway in a research note on Wednesday, October 8th. Citigroup lifted their price target on Canadian National Railway from $119.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Bank of America reduced their price objective on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Susquehanna increased their price objective on shares of Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Finally, Barclays reduced their price objective on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $114.00.

Canadian National Railway Price Performance

CNI opened at $92.63 on Wednesday. The firm has a market capitalization of $57.11 billion, a P/E ratio of 17.81, a PEG ratio of 2.13 and a beta of 0.95. The stock has a fifty day moving average of $94.71 and a 200-day moving average of $98.28. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $112.06.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.05. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $4.15 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.Canadian National Railway’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.72 earnings per share. Equities analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th will be issued a dividend of $0.8875 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Tuesday, December 9th. Canadian National Railway’s dividend payout ratio is 48.01%.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.