Bridgefront Capital LLC Buys Shares of 2,715 Canadian National Railway (NYSE:CNI)

Bridgefront Capital LLC bought a new stake in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,715 shares of the transportation company's stock, valued at approximately $276,000.

Several other hedge funds also recently bought and sold shares of CNI. Norges Bank acquired a new stake in Canadian National Railway during the 4th quarter worth approximately $563,048,000. Canoe Financial LP acquired a new position in Canadian National Railway in the 4th quarter worth $216,943,000. Price T Rowe Associates Inc. MD increased its holdings in Canadian National Railway by 33.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock worth $557,278,000 after purchasing an additional 1,380,554 shares in the last quarter. Capital International Investors raised its stake in shares of Canadian National Railway by 12.8% in the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock valued at $1,199,680,000 after purchasing an additional 1,341,133 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Canadian National Railway by 29.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company's stock valued at $488,488,000 after purchasing an additional 1,102,977 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Canadian National Railway from $165.00 to $163.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Stifel Nicolaus reduced their price target on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. TD Securities raised shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 13th. Barclays cut their price objective on shares of Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Finally, Evercore ISI dropped their price target on shares of Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $119.27.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock traded up $0.64 on Tuesday, reaching $105.34. The stock had a trading volume of 302,310 shares, compared to its average volume of 1,299,986. Canadian National Railway has a 1 year low of $91.65 and a 1 year high of $129.18. The business's 50 day moving average is $98.16 and its two-hundred day moving average is $102.55. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The company has a market cap of $66.21 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 1.95 and a beta of 0.97.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.03. Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. The business had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $4.38 billion. During the same quarter in the prior year, the company posted $1.72 EPS. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts anticipate that Canadian National Railway will post 5.52 EPS for the current year.

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.