Cullen Capital Management LLC Invests $2.30 Million in Canadian National Railway Company $CNI

Key Points

• Cullen Capital Management acquired a new $2.30 million stake in Canadian National Railway during the second quarter, purchasing 19,278 shares. Institutional investors and hedge funds collectively own 80.74% of the company.
• Canadian National Railway exceeded quarterly expectations, reporting $1.50 EPS versus the $1.39 estimate and $3.35 billion in revenue, up 11.3% year over year. Analysts maintain a “Moderate Buy” consensus with a $137.40 average price target.
• The company declared a quarterly dividend of $0.915 per share, equivalent to an annualized $3.66 payout and a 2.9% yield.

Cullen Capital Management LLC acquired a new stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,278 shares of the transportation company's stock, valued at approximately $2,299,000.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC acquired a new position in shares of Canadian National Railway in the first quarter valued at about $311,000. Focus Partners Wealth raised its stake in shares of Canadian National Railway by 11.1% in the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company's stock worth $1,122,000 after purchasing an additional 1,146 shares during the last quarter. Schnieders Capital Management LLC. acquired a new stake in shares of Canadian National Railway during the second quarter worth about $202,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Canadian National Railway by 52.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company's stock worth $116,000 after purchasing an additional 383 shares during the period. Finally, Baird Financial Group Inc. boosted its position in Canadian National Railway by 2.9% in the second quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company's stock valued at $1,778,000 after buying an additional 474 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Benchmark reiterated a "hold" rating on shares of Canadian National Railway in a report on Monday, July 27th. Susquehanna restated a "neutral" rating and set a $140.00 price objective (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Stephens raised shares of Canadian National Railway to a "hold" rating in a report on Wednesday, July 8th. Citizens Jmp began coverage on shares of Canadian National Railway in a research note on Wednesday, July 15th. They issued a "market perform" rating on the stock. Finally, Wells Fargo & Company raised their target price on shares of Canadian National Railway from $135.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.40.

Canadian National Railway Stock Down 1.9%

Canadian National Railway stock opened at $127.44 on Tuesday. The business's 50-day moving average price is $124.21 and its 200 day moving average price is $114.95. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99. The firm has a market cap of $77.12 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 2.42 and a beta of 0.95. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $131.55.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the company posted $1.87 earnings per share. Canadian National Railway's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Canadian National Railway Company will post 5.81 earnings per share for the current 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 paid a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 8th. Canadian National Railway's payout ratio is currently 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.

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