Ausbil Investment Management Ltd Buys 9,737 Shares of Canadian National Railway Company $CNI

Key Points

• Ausbil Investment Management increased its Canadian National Railway stake by 20.7% in the second quarter, purchasing 9,737 additional shares. The fund now owns 56,806 shares valued at approximately $6.8 million.
• Analysts remain mixed but cautiously positive: eight rate CNI a Buy and nine rate it a Hold, producing an average rating of “Hold” and a consensus price target of $137.40.
• Canadian National Railway exceeded quarterly earnings and revenue expectations, reporting $1.50 EPS and $3.35 billion in revenue. The company also announced a quarterly dividend of $0.915 per share, equivalent to a 2.9% annualized yield.

Ausbil Investment Management Ltd increased its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 20.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 56,806 shares of the transportation company's stock after purchasing an additional 9,737 shares during the period. Canadian National Railway accounts for 3.0% of Ausbil Investment Management Ltd's investment portfolio, making the stock its 13th largest position. Ausbil Investment Management Ltd's holdings in Canadian National Railway were worth $6,767,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in CNI. Minot DeBlois Advisors LLC increased its position in shares of Canadian National Railway by 2.0% during the fourth quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company's stock valued at $507,000 after buying an additional 103 shares during the period. Smartleaf Asset Management LLC increased its holdings in Canadian National Railway by 19.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company's stock worth $63,000 after acquiring an additional 103 shares during the period. Tacita Capital Inc increased its holdings in Canadian National Railway by 0.6% during the 4th quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company's stock worth $1,960,000 after acquiring an additional 109 shares during the period. Roberts Glore & Co. Inc. IL increased its holdings in Canadian National Railway by 1.5% during the 4th quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company's stock worth $715,000 after acquiring an additional 110 shares during the period. Finally, Patten Group Inc. lifted its stake in Canadian National Railway by 1.4% in the 4th quarter. Patten Group Inc. now owns 8,326 shares of the transportation company's stock worth $823,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

CNI has been the subject of several analyst reports. Bank of America raised their price target on shares of Canadian National Railway from $132.00 to $134.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Canadian Imperial Bank of Commerce upped their price target on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an "outperformer" rating in a report on Thursday, June 25th. Stephens upgraded Canadian National Railway to a "hold" rating in a research report on Wednesday, July 8th. Evercore raised Canadian National Railway from an "in-line" rating to an "outperform" rating and set a $124.00 price objective for the company in a research note on Thursday, June 25th. Finally, National Bank Financial set a $124.00 price objective on Canadian National Railway in a research note on Thursday, June 25th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $137.40.

Canadian National Railway Price Performance

CNI stock opened at $125.06 on Tuesday. The firm has a 50 day simple moving average of $122.67 and a two-hundred day simple moving average of $112.94. The stock has a market cap of $75.79 billion, a PE ratio of 22.17, a P/E/G ratio of 2.36 and a beta of 0.95. Canadian National Railway Company has a one year low of $90.74 and a one year 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.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share 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 firm had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter last year, the company posted $1.87 EPS. The business's quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts predict that Canadian National Railway Company will post 5.8 EPS 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. Investors of record on Tuesday, September 8th will be given a $0.915 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. Canadian National Railway's payout ratio is presently 47.34%.

Canadian National Railway Company 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