CenterBook Partners LP Acquires New Position in Canadian National Railway Company (NYSE:CNI)

CenterBook Partners LP acquired a new stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,326 shares of the transportation company's stock, valued at approximately $422,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Lee Danner & Bass Inc. acquired a new stake in Canadian National Railway in the fourth quarter valued at about $30,000. Bruce G. Allen Investments LLC lifted its position 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 valued at $34,000 after acquiring an additional 106 shares during the period. CX Institutional acquired a new stake in shares of Canadian National Railway during the 1st quarter valued at approximately $39,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Canadian National Railway during the 4th quarter valued at approximately $52,000. Finally, Dunhill Financial LLC lifted its position in shares of Canadian National Railway by 1,020.0% during the 4th quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock valued at $57,000 after acquiring an additional 510 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Trading Down 2.8%

Shares of NYSE CNI traded down $2.81 during trading on Friday, hitting $99.02. 1,007,457 shares of the company traded hands, compared to its average volume of 1,328,109. Canadian National Railway Company has a 1 year low of $91.65 and a 1 year high of $123.37. The company has a 50-day moving average price of $104.64 and a 200-day moving average price of $101.68. The firm has a market capitalization of $62.03 billion, a P/E ratio of 19.34, a P/E/G ratio of 2.06 and a beta of 0.97. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 0.88.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. The company had revenue of $3.06 billion during the quarter, compared to analysts' expectations of $4.38 billion. During the same period in the previous year, the company earned $1.72 EPS. The business's quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th were paid a dividend of $0.8875 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Canadian National Railway's previous dividend of $0.29. This represents a dividend yield of 2.47%. Canadian National Railway's payout ratio is currently 50.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial upgraded shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday. 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. Argus upgraded shares of Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Stifel Nicolaus reduced their price target on shares of Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Susquehanna lifted their price objective on Canadian National Railway from $120.00 to $122.00 and gave the stock a "positive" rating in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $120.86.

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.

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