FNY Investment Advisers LLC Takes $5.16 Million Position in Canadian National Railway Company $CNI

Key Points

• FNY Investment Advisers bought a new 43,300-share stake in Canadian National Railway worth approximately $5.16 million, making CNI its fifth-largest holding. Institutional investors collectively own 80.74% of the company.
• Canadian National Railway reported quarterly EPS of $1.50 and revenue of $3.35 billion, beating analyst estimates, while revenue increased 11.3% year over year.
• The company declared a quarterly dividend of $0.915 per share, equivalent to an annualized $3.66 payout and a 2.9% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $137.40.

FNY Investment Advisers LLC bought a new stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 43,300 shares of the transportation company's stock, valued at approximately $5,163,000. Canadian National Railway accounts for 1.9% of FNY Investment Advisers LLC's investment portfolio, making the stock its 5th biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of CNI. Vanguard Group Inc. lifted its stake in Canadian National Railway by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 24,646,922 shares of the transportation company's stock valued at $2,437,679,000 after buying an additional 346,670 shares in the last quarter. FIL Ltd increased its stake in Canadian National Railway by 49.5% during the 4th quarter. FIL Ltd now owns 15,745,744 shares of the transportation company's stock worth $1,557,309,000 after buying an additional 5,210,403 shares in the last quarter. Caisse de depot et placement du Quebec increased its stake in Canadian National Railway by 1.1% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company's stock worth $1,310,600,000 after buying an additional 157,000 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Canadian National Railway by 2.0% during the first quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company's stock valued at $934,488,000 after acquiring an additional 173,894 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Canadian National Railway by 15.1% during the fourth quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company's stock valued at $889,462,000 after acquiring an additional 1,182,106 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Price Performance

CNI stock opened at $126.36 on Friday. Canadian National Railway Company has a 1 year low of $90.74 and a 1 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. The firm has a market capitalization of $76.57 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 2.39 and a beta of 0.95. The business has a 50 day simple moving average of $122.39 and a 200-day simple moving average of $112.55.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The firm's revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.87 earnings per share. Equities research analysts anticipate that Canadian National Railway Company will post 5.78 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th will be issued a dividend of $0.915 per share. 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNI. Evercore raised Canadian National Railway from an "in-line" rating to an "outperform" rating and set a $124.00 price target on the stock in a research note on Thursday, June 25th. Wells Fargo & Company boosted their price target on Canadian National Railway from $135.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, July 27th. Bank of America raised their price objective on Canadian National Railway from $132.00 to $134.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a research note on Monday, July 27th. Finally, Weiss Ratings raised shares of Canadian National Railway from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, July 28th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $137.40.

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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