Andra AP fonden Invests $2.82 Million in Canadian National Railway Company $CNI

Key Points

• Andra AP fonden purchased a new $2.82 million stake in Canadian National Railway during the second quarter, buying 23,641 shares. Institutional investors collectively own 80.74% of the company.
• Analysts maintain a generally positive outlook, with Canadian National Railway receiving a “Moderate Buy” consensus rating and an average price target of $138.21.
• The company reported quarterly earnings of $1.50 per share, beating estimates, while revenue rose 11.3% year over year to $3.35 billion. It also declared a quarterly dividend of $0.915 per share, representing a 3.1% annualized yield.

Andra AP fonden bought a new stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,641 shares of the transportation company's stock, valued at approximately $2,819,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Lazard Asset Management LLC lifted its holdings in shares of Canadian National Railway by 2.0% in the 1st quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company's stock valued at $934,488,000 after acquiring an additional 173,894 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Canadian National Railway by 15.1% in the 4th quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company's stock worth $889,462,000 after purchasing an additional 1,182,106 shares during the period. Fiera Capital Corp boosted its holdings in shares of Canadian National Railway by 2.7% in the 4th quarter. Fiera Capital Corp now owns 6,648,582 shares of the transportation company's stock worth $657,784,000 after purchasing an additional 176,872 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Canadian National Railway by 2.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,165,148 shares of the transportation company's stock valued at $609,582,000 after purchasing an additional 173,410 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Canadian National Railway during the 4th quarter valued at approximately $570,161,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Benchmark restated a "hold" rating on shares of Canadian National Railway in a research report on Monday, July 27th. Evercore upgraded shares of Canadian National Railway from an "in-line" rating to an "outperform" rating and set a $124.00 price objective on the stock in a research report on Thursday, June 25th. Susquehanna reissued a "neutral" rating and issued a $140.00 target price (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Stephens upgraded shares of Canadian National Railway to a "hold" rating in a report on Wednesday, July 8th. Finally, Barclays lifted their price target on shares of Canadian National Railway from $109.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of "Moderate Buy" and an average price target of $138.21.

Canadian National Railway Price Performance

Shares of CNI stock opened at $119.61 on Thursday. The stock has a 50 day moving average price of $125.29 and a 200 day moving average price of $117.19. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $131.55. 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 firm has a market capitalization of $72.25 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.13 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, beating the consensus estimate 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 company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the company posted $1.87 EPS. Canadian National Railway's quarterly revenue was up 11.3% on a year-over-year basis. As a group, sell-side analysts predict that Canadian National Railway Company will post 5.82 earnings per share for the current year.

Canadian National Railway Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th will be paid a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is currently 46.10%.

Canadian National Railway Company Profile

Canadian National Railway Company NYSE: CNI is a transportation and logistics company that operates a major freight railway network across Canada and the United States. Its rail system connects the Atlantic, Pacific and Gulf coasts with major industrial centers, ports and distribution markets, supporting trade across North America.

CN transports a diverse range of products, including grain and fertilizers, coal and minerals, forest products, petroleum and chemicals, metals, automotive goods, and consumer and manufactured products.

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.