34,693 Shares in Canadian National Railway Company $CNI Purchased by Elefante Mark B

Key Points

• Elefante Mark B purchased 34,693 shares of Canadian National Railway in the second quarter, valued at approximately $4.14 million. The position represents 1.8% of the firm’s portfolio, while institutional investors and hedge funds collectively own 80.74% of the stock.
• Analysts maintain a generally positive outlook, with nine Buy ratings and eight Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $137.40.
• Canadian National Railway exceeded quarterly expectations with EPS of $1.50 and revenue of $3.35 billion, while announcing a quarterly dividend of $0.915 per share, equivalent to a 2.8% annualized yield.

Elefante Mark B purchased a new stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 34,693 shares of the transportation company's stock, valued at approximately $4,137,000. Canadian National Railway makes up 1.8% of Elefante Mark B's portfolio, making the stock its 25th biggest position.

A number of other large investors also recently bought and sold shares of the stock. High Point Wealth Management LLC acquired a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $27,000. Curio Wealth LLC acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $31,000. MidFirst Bank acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd boosted its holdings in Canadian National Railway by 378.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company's stock worth $35,000 after buying an additional 280 shares in the last quarter. Finally, MBM Wealth Consultants LLC acquired a new stake in Canadian National Railway during the first quarter valued at $37,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CNI. Susquehanna reaffirmed a "neutral" rating and issued a $140.00 price objective (up from $138.00) on shares of Canadian National Railway in a report on Tuesday, July 14th. Stephens upgraded Canadian National Railway to a "hold" rating in a research report on Wednesday, July 8th. Barclays lifted their price target on Canadian National Railway from $109.00 to $130.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. Bank of America upped their price target on Canadian National Railway from $132.00 to $134.00 and gave the stock a "buy" rating in a report on Tuesday, June 23rd. Finally, Canadian Imperial Bank of Commerce increased their price target on Canadian National Railway from C$182.00 to C$185.00 and gave the stock an "outperformer" rating in a research report on Thursday, June 25th. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of "Moderate Buy" and a consensus price target of $137.40.

Canadian National Railway Stock Performance

NYSE:CNI opened at $129.91 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. The stock has a market capitalization of $78.62 billion, a PE ratio of 23.03, a P/E/G ratio of 2.42 and a beta of 0.95. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $131.55. The company has a fifty day moving average of $124.01 and a two-hundred day moving average of $114.73.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the business earned $1.87 earnings per share. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, research analysts forecast that Canadian National Railway Company will post 5.81 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 2.8%. Canadian National Railway's dividend payout ratio is presently 47.34%.

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.

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