Addenda Capital Inc. Has $65.45 Million Stock Holdings in Canadian National Railway Company $CNI

Addenda Capital Inc. boosted its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 19.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 548,874 shares of the transportation company's stock after purchasing an additional 88,869 shares during the quarter. Canadian National Railway comprises approximately 2.2% of Addenda Capital Inc.'s holdings, making the stock its 11th largest position. Addenda Capital Inc. owned about 0.09% of Canadian National Railway worth $65,448,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNI. AQR Capital Management LLC acquired a new stake in Canadian National Railway during the first quarter worth about $311,000. Focus Partners Wealth raised its stake in shares of Canadian National Railway by 11.1% in the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company's stock valued at $1,122,000 after purchasing an additional 1,146 shares in the last quarter. Schnieders Capital Management LLC. acquired a new stake in shares of Canadian National Railway during the 2nd quarter valued at about $202,000. EverSource Wealth Advisors LLC raised its position in Canadian National Railway by 52.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company's stock worth $116,000 after purchasing an additional 383 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Canadian National Railway by 2.9% during the second quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company's stock worth $1,778,000 after purchasing an additional 474 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CNI shares. Susquehanna reissued a "neutral" rating and set a $140.00 price target (up from $138.00) on shares of Canadian National Railway in a report on Tuesday, July 14th. 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. National Bank Financial set a $124.00 target price on shares of Canadian National Railway in a research note on Thursday, June 25th. Barclays boosted their target price on Canadian National Railway from $109.00 to $130.00 and gave the stock an "equal weight" rating in a report on Monday, July 27th. Finally, Benchmark restated a "hold" rating on shares of Canadian National Railway in a research report on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Canadian National Railway has an average rating of "Moderate Buy" and a consensus target price of $137.40.

Canadian National Railway Stock Down 0.1%

Shares of Canadian National Railway stock opened at $125.89 on Monday. The firm has a market cap of $76.18 billion, a PE ratio of 22.32, a P/E/G ratio of 2.35 and a beta of 0.95. The business's 50 day simple moving average is $125.18 and its 200 day simple moving average is $115.68. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $131.55.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.11. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the business earned $1.87 earnings per share. The business's revenue was up 11.3% compared to the same quarter last year. On average, analysts predict that Canadian National Railway Company will post 5.81 earnings per share 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. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, September 8th. 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.

Want to see what other hedge funds are holding CNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR.

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