Arrowstreet Capital Limited Partnership Has $486.32 Million Stock Position in Canadian National Railway Company $CNI

Arrowstreet Capital Limited Partnership cut its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 23.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,728,502 shares of the transportation company’s stock after selling 1,436,646 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.78% of Canadian National Railway worth $486,324,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Minot DeBlois Advisors LLC boosted its stake in Canadian National Railway by 2.0% during the 4th quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company’s stock valued at $507,000 after purchasing an additional 103 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Canadian National Railway by 19.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company’s stock worth $63,000 after purchasing an additional 103 shares in the last quarter. Tacita Capital Inc raised its stake in shares of Canadian National Railway by 0.6% in the fourth quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company’s stock worth $1,960,000 after purchasing an additional 109 shares during the last quarter. Roberts Glore & Co. Inc. IL raised its stake in shares of Canadian National Railway by 1.5% in the fourth quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company’s stock worth $715,000 after purchasing an additional 110 shares during the last quarter. Finally, Patten Group Inc. lifted its holdings in shares of Canadian National Railway by 1.4% in the fourth quarter. Patten Group Inc. now owns 8,326 shares of the transportation company’s stock valued at $823,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CNI shares. Susquehanna reaffirmed a “neutral” rating and set a $140.00 target price (up from $138.00) on shares of Canadian National Railway in a research report on Tuesday, July 14th. Sanford C. Bernstein increased their price target on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. Barclays raised their price objective on Canadian National Railway from $99.00 to $109.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Stephens upgraded shares of Canadian National Railway to a “hold” rating in a research note on Wednesday, July 8th. Finally, National Bank Financial set a $124.00 target price on shares of Canadian National Railway in a research note on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.12.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $130.54 on Friday. The business’s fifty day simple moving average is $119.80 and its 200 day simple moving average is $110.51. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $131.21. The firm has a market capitalization of $79.11 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 2.44 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.31. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 EPS. As a group, analysts anticipate that Canadian National Railway Company will post 5.67 EPS for the current year.

Canadian National Railway Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Tuesday, June 9th. 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.