Goldman Sachs Group Inc. Has $259.69 Million Stock Position in Canadian National Railway Company $CNI

Key Points

• Goldman Sachs increased its stake in Canadian National Railway by 39.6%, now owning approximately 2.66 million shares valued at $259.7 million.
• Canadian National Railway has recently declared a quarterly dividend of $0.6507, up from $0.62, representing an annual yield of 2.8%.
• Analysts have varied ratings for the stock, with an average target price of $118.36 as multiple brokerages adjust their evaluations.

Goldman Sachs Group Inc. increased its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 39.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,664,618 shares of the transportation company's stock after acquiring an additional 755,518 shares during the quarter. Goldman Sachs Group Inc. owned about 0.42% of Canadian National Railway worth $259,694,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CNI. Dagco Inc. bought a new position in Canadian National Railway in the 1st quarter worth $32,000. Bruce G. Allen Investments LLC increased its holdings in shares of Canadian National Railway by 44.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after purchasing an additional 106 shares during the period. CX Institutional bought a new position in shares of Canadian National Railway during the 1st quarter worth about $39,000. Brooklyn Investment Group increased its holdings in shares of Canadian National Railway by 354.3% during the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock worth $42,000 after purchasing an additional 333 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Canadian National Railway by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after purchasing an additional 171 shares during the period. Institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

CNI has been the topic of several research reports. Bank of America boosted their price objective on shares of Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. National Bank Financial downgraded shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a report on Wednesday, July 23rd. Raymond James Financial upgraded shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Evercore ISI lowered shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 target price on the stock. in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $118.36.

Canadian National Railway Price Performance

NYSE:CNI traded down $0.43 on Friday, reaching $93.50. The stock had a trading volume of 1,232,979 shares, compared to its average volume of 1,734,299. The company has a market capitalization of $58.04 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 2.16 and a beta of 0.94. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $121.12. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The stock has a fifty day moving average price of $96.67 and a 200-day moving average price of $99.52.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. Canadian National Railway's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 earnings per share. Research analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be paid a $0.6507 dividend. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway's payout ratio is presently 50.19%.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.