78,063 Shares in Canadian National Railway Company $CNI Purchased by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors acquired 78,063 shares of Canadian National Railway in the second quarter, valued at approximately $9.3 million. Institutional investors and hedge funds collectively own 80.74% of the company.
• Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average price target of $137.40. Recent targets range as high as $141, while Evercore upgraded the stock to “outperform.”
• Canadian National Railway exceeded quarterly earnings and revenue expectations, reporting $1.50 in EPS and $3.35 billion in revenue. The company also declared a quarterly dividend of $0.915 per share, equivalent to a 2.9% annual yield.

Great Lakes Advisors LLC bought a new position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 78,063 shares of the transportation company's stock, valued at approximately $9,308,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CNI. High Point Wealth Management LLC acquired a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $27,000. MidFirst Bank bought a new stake in shares of Canadian National Railway in the 4th quarter worth approximately $31,000. Curio Wealth LLC acquired a new position in Canadian National Railway during the 4th quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd boosted its position in Canadian National Railway by 378.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company's stock valued at $35,000 after purchasing an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC bought a new position in Canadian National Railway during the 1st quarter worth $37,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Evercore raised Canadian National Railway from an "in-line" rating to an "outperform" rating and set a $124.00 target price on the stock in a research report on Thursday, June 25th. Barclays boosted their price target on shares of Canadian National Railway from $109.00 to $130.00 and gave the company an "equal weight" rating in a report on Monday, July 27th. Citigroup upped their price target on shares of Canadian National Railway from $124.00 to $141.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Bank of America lifted their price objective on shares of Canadian National Railway from $132.00 to $134.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Finally, Weiss Ratings raised shares of Canadian National Railway from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Canadian National Railway currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.40.

Canadian National Railway Trading Up 0.1%

Canadian National Railway stock opened at $126.67 on Wednesday. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $131.55. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. The stock has a market capitalization of $76.65 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.37 and a beta of 0.95. The firm has a 50 day simple moving average of $123.42 and a 200-day simple moving average of $114.08.

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 EPS for the quarter, topping the consensus estimate of $1.39 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The firm's quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.87 earnings per share. As a group, equities research analysts expect that Canadian National Railway Company will post 5.81 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th will be paid a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway's payout ratio is currently 47.34%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source