Goldman Sachs Group Inc. Acquires 97,937 Shares of Canadian National Railway Company $CNI

Key Points

• Goldman Sachs increased its stake in Canadian National Railway by 97,937 shares in the fourth quarter, bringing its total holdings to 3.6 million shares valued at about $355.6 million.
• Canadian National Railway reported Q1 earnings that matched analyst expectations, posting $1.31 EPS on revenue of $3.15 billion, while revenue was down 0.5% year over year.
• The company announced a quarterly dividend of $0.915 per share, or $3.66 annually, implying a 3.0% yield; the stock also traded near its 52-week high at $120.50.

Goldman Sachs Group Inc. boosted its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,597,721 shares of the transportation company's stock after buying an additional 97,937 shares during the period. Goldman Sachs Group Inc. owned approximately 0.59% of Canadian National Railway worth $355,635,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Canadian National Railway by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 24,646,922 shares of the transportation company's stock worth $2,437,679,000 after purchasing an additional 346,670 shares during the last quarter. Bank of Montreal Can increased its holdings in Canadian National Railway by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 14,201,675 shares of the transportation company's stock valued at $1,338,948,000 after purchasing an additional 42,907 shares during the period. Caisse de depot et placement du Quebec boosted its position 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 valued at $1,310,600,000 after acquiring an additional 157,000 shares in the last quarter. Lazard Asset Management LLC boosted its position in Canadian National Railway by 639,137.0% during the 3rd quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company's stock valued at $844,353,000 after acquiring an additional 8,954,310 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Canadian National Railway by 0.4% during the 3rd quarter. Mackenzie Financial Corp now owns 8,626,147 shares of the transportation company's stock valued at $813,287,000 after acquiring an additional 35,938 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Trading Up 0.8%

Shares of CNI stock opened at $120.50 on Friday. The stock has a fifty day simple moving average of $111.57 and a two-hundred day simple moving average of $104.63. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $122.48. The firm has a market capitalization of $73.23 billion, a PE ratio of 21.91, a PEG ratio of 2.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67.

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

Canadian National Railway Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 9th. Canadian National Railway's dividend payout ratio (DPR) is presently 48.73%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CNI. Citigroup lifted their price objective on Canadian National Railway from $123.00 to $124.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Sanford C. Bernstein boosted their price target on 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. Barclays boosted their price target on 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. Weiss Ratings cut Canadian National Railway from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday. Finally, Bank of America raised Canadian National Railway from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $117.00 to $122.00 in a research report on Thursday, April 9th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $122.04.

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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