Canadian National Railway Company $CNI Shares Purchased by Balyasny Asset Management L.P.

Key Points

• Balyasny Asset Management dramatically increased its stake in Canadian National Railway, boosting holdings by 7,521.2% to 1,143,186 shares valued at about $113 million.
• Several other institutional investors also adjusted positions, and hedge funds and institutions now own about 80.74% of the company.
• Analysts are mixed but slightly cautious overall: the stock has a Hold consensus rating with a $122.04 target price, while the company also continues to pay a quarterly dividend of $0.915 per share, yielding about 3.2%.

Balyasny Asset Management L.P. lifted its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 7,521.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,143,186 shares of the transportation company's stock after purchasing an additional 1,128,186 shares during the period. Balyasny Asset Management L.P. owned about 0.19% of Canadian National Railway worth $113,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Lincluden Management Ltd. lifted its stake in shares of Canadian National Railway by 4.1% in the 3rd quarter. Lincluden Management Ltd. now owns 434,344 shares of the transportation company's stock valued at $40,717,000 after purchasing an additional 17,257 shares during the period. Kensington Investment Counsel LLC acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $3,079,000. Scharf Investments LLC acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $8,283,000. CIBC Bancorp USA Inc. acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $32,174,000. Finally, Fisher Asset Management LLC raised its position in Canadian National Railway by 10.5% during the fourth quarter. Fisher Asset Management LLC now owns 2,279,778 shares of the transportation company's stock worth $225,356,000 after acquiring an additional 216,963 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of Canadian National Railway from $98.00 to $99.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 30th. Sanford C. Bernstein upped their price objective on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a "market perform" rating in a research report on Tuesday, March 31st. Citigroup upped their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Bank of America upgraded shares of Canadian National Railway from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $117.00 to $122.00 in a research report on Thursday, April 9th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Canadian National Railway from C$164.00 to C$182.00 and gave the stock an "outperformer" rating in a research report on Tuesday, June 9th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $122.04.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $113.92 on Thursday. The firm has a 50-day simple moving average of $114.03 and a 200-day simple moving average of $106.12. The stock has a market capitalization of $69.11 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 2.25 and a beta of 0.96. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $122.48.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting analysts' consensus estimates of $1.31. The business had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 earnings per share. On average, equities analysts predict that Canadian National Railway Company will post 5.76 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 9th. Canadian National Railway's dividend payout ratio is 48.55%.

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.

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