Arrowstreet Capital Limited Partnership Grows Position in Canadian National Railway Company $CNI

Arrowstreet Capital Limited Partnership raised its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 20.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,296,828 shares of the transportation company’s stock after purchasing an additional 1,051,977 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.01% of Canadian National Railway worth $655,768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Addison Advisors LLC grew its holdings in shares of Canadian National Railway by 124.0% during the second quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after buying an additional 150 shares during the last quarter. Curio Wealth LLC raised its stake in Canadian National Railway by 31,600.0% in the 2nd quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock worth $33,000 after acquiring an additional 316 shares during the last quarter. Dagco Inc. acquired a new stake in Canadian National Railway during the 1st quarter worth about $32,000. Brooklyn Investment Group lifted its position in Canadian National Railway by 354.3% during the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company’s stock worth $42,000 after acquiring an additional 333 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Canadian National Railway by 42.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 167 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America decreased their target price on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a report on Monday, September 29th. Royal Bank Of Canada raised their price target on shares of Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Citigroup upped their price objective on shares of Canadian National Railway from $119.00 to $120.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Susquehanna increased their price objective on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.36.

Canadian National Railway Trading Down 0.3%

Shares of NYSE:CNI opened at $95.58 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.58 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 $111.67. The business has a 50 day moving average of $94.83 and a two-hundred day moving average of $97.96. The company has a market capitalization of $58.93 billion, a PE ratio of 18.38, a PEG ratio of 2.13 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its 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. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period in the previous year, the firm earned $1.72 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Tuesday, December 9th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 dividend on an annualized basis and a yield of 3.7%. Canadian National Railway’s dividend payout ratio is presently 48.01%.

About Canadian National Railway

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.