Interval Partners LP Purchases Shares of 305,601 Canadian National Railway Company $CNI

Key Points

• Interval Partners LP has acquired a new stake in Canadian National Railway Company worth approximately $29.78 million, purchasing 305,601 shares during the first quarter.
• Analysts have mixed views on the company, with a consensus rating of "Hold" and a target price of $118.36, indicating cautious optimism among financial institutions.
• Canadian National Railway is set to increase its quarterly dividend to $0.6507 per share, reflecting a 2.7% yield and representing a raise from the previous dividend.

Interval Partners LP bought a new position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 305,601 shares of the transportation company's stock, valued at approximately $29,784,000.

Several other large investors have also bought and sold shares of CNI. Dagco Inc. bought a new position in Canadian National Railway during the 1st quarter worth $32,000. Bruce G. Allen Investments LLC raised its position in 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 worth $34,000 after purchasing an additional 106 shares during the last quarter. CX Institutional bought a new position in Canadian National Railway during the 1st quarter worth $39,000. Brooklyn Investment Group raised its position in Canadian National Railway by 354.3% during the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock worth $42,000 after purchasing an additional 333 shares during the last quarter. Finally, Dunhill Financial LLC raised its position in Canadian National Railway by 1,020.0% during the 4th quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock worth $57,000 after purchasing an additional 510 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on CNI. Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 17th. Argus raised Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Evercore ISI lowered Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price objective for the company. in a research report on Wednesday, July 23rd. Susquehanna lowered their price objective on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Finally, Citigroup lowered their price objective on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $118.36.

Canadian National Railway Stock Down 0.2%

Shares of CNI traded down $0.18 during trading hours on Friday, hitting $96.56. The stock had a trading volume of 3,264,868 shares, compared to its average volume of 1,746,237. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The firm has a 50 day simple moving average of $97.88 and a 200-day simple moving average of $99.77. The firm has a market capitalization of $60.28 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 2.22 and a beta of 0.94. Canadian National Railway Company has a 1-year low of $91.65 and a 1-year high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The business's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 earnings per share. Sell-side analysts predict that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be paid a $0.6507 dividend. The ex-dividend date is Monday, September 8th. This represents a $2.60 annualized dividend and a dividend yield of 2.7%. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's dividend payout ratio (DPR) is 49.81%.

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.