Graham Capital Management L.P. Raises Stake in Canadian National Railway Company $CNI

Key Points

• Graham Capital Management sharply increased its stake in Canadian National Railway, boosting holdings by 1,541% in the fourth quarter to 59,880 shares valued at about $5.9 million.
• Canadian National Railway reported Q1 earnings and revenue that matched analysts’ expectations, with EPS of $1.31 and revenue of $3.15 billion, while analysts now expect full-year EPS of 5.76.
• The company declared a quarterly dividend of $0.915 per share, equivalent to an annualized yield of about 3.1%, as several analysts recently raised price targets and the stock consensus remains a Hold.

Graham Capital Management L.P. boosted its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 1,541.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,880 shares of the transportation company's stock after buying an additional 56,231 shares during the quarter. Graham Capital Management L.P.'s holdings in Canadian National Railway were worth $5,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Minot DeBlois Advisors LLC boosted its stake in Canadian National Railway by 2.0% in the fourth quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company's stock worth $507,000 after buying an additional 103 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Canadian National Railway by 19.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company's stock worth $63,000 after buying an additional 103 shares in the last quarter. Tacita Capital Inc boosted its stake in Canadian National Railway by 0.6% in the fourth quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company's stock worth $1,960,000 after buying an additional 109 shares in the last quarter. Roberts Glore & Co. Inc. IL boosted its stake in Canadian National Railway by 1.5% in the fourth quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company's stock worth $715,000 after buying an additional 110 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Canadian National Railway by 10.1% during the third quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the transportation company's stock valued at $116,000 after purchasing an additional 113 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Performance

NYSE:CNI opened at $117.75 on Wednesday. The firm has a market cap of $71.44 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.25 and a beta of 0.96. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $122.48. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. The business has a 50 day moving average price of $113.86 and a 200-day moving average price of $105.98.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced 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 company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 earnings per share. Equities research analysts predict that Canadian National Railway Company will post 5.76 earnings per share for the current year.

Canadian National Railway Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, June 9th. Canadian National Railway's dividend payout ratio is currently 48.55%.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of analyst reports. Bank of America raised Canadian National Railway from a "neutral" rating to a "buy" rating and increased their price objective for the company from $117.00 to $122.00 in a research note on Thursday, April 9th. Barclays increased their price objective on Canadian National Railway from $98.00 to $99.00 and gave the company an "equal weight" rating in a research note on Thursday, April 30th. Canadian Imperial Bank of Commerce increased their price objective on Canadian National Railway from C$164.00 to C$182.00 and gave the company an "outperformer" rating in a research note on Tuesday, June 9th. Sanford C. Bernstein increased their price objective on Canadian National Railway from $113.88 to $117.36 and gave the company a "market perform" rating in a research note on Tuesday, March 31st. Finally, Royal Bank Of Canada increased their price objective on Canadian National Railway from $160.00 to $178.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Canadian National Railway has an average rating of "Hold" and a consensus target price 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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