Canadian National Railway Company $CNI Shares Purchased by Citigroup Inc.

Citigroup Inc. increased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 62.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262,863 shares of the transportation company’s stock after purchasing an additional 100,629 shares during the period. Citigroup Inc.’s holdings in Canadian National Railway were worth $24,794,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC bought a new stake in shares of Canadian National Railway in the 1st quarter valued at approximately $311,000. Focus Partners Wealth raised its holdings in shares of Canadian National Railway by 11.1% during the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after purchasing an additional 1,146 shares during the period. Schnieders Capital Management LLC. bought a new position in shares of Canadian National Railway in the 2nd quarter worth about $202,000. D.A. Davidson & CO. boosted its stake in Canadian National Railway by 5.3% in the second quarter. D.A. Davidson & CO. now owns 2,374 shares of the transportation company’s stock valued at $247,000 after acquiring an additional 119 shares during the period. Finally, Brookstone Capital Management acquired a new position in Canadian National Railway during the 2nd quarter valued at approximately $218,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE CNI opened at $109.05 on Thursday. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94. The stock has a market cap of $66.86 billion, a P/E ratio of 20.08, a PEG ratio of 2.34 and a beta of 0.94. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $111.47. The company’s 50-day simple moving average is $101.31 and its 200 day simple moving average is $97.33.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.82 EPS. As a group, research analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio is presently 46.59%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CNI shares. BMO Capital Markets reissued an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Royal Bank Of Canada dropped their price target on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, February 2nd. Canadian Imperial Bank of Commerce raised shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and upped their price objective for the company from $146.00 to $151.00 in a research note on Friday, November 28th. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Finally, Citigroup cut their target price on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Ten research 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $118.91.

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.