Kingstone Capital Partners Texas LLC Acquires Shares of 2,690,400 Canadian National Railway Company $CNI

Key Points

• Kingstone Capital Partners Texas LLC has acquired $310.49 million in shares of Canadian National Railway Company, totaling approximately 2,690,400 shares.
• Various institutional investors have increased their holdings in Canadian National Railway, with Canoe Financial LP boosting its stake by 7.4% to a total of $272.3 million.
• The company recently announced a quarterly dividend of $0.6507 per share, marking an increase from the previous dividend, which indicates a commitment to returning value to shareholders.

Kingstone Capital Partners Texas LLC acquired a new position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,690,400 shares of the transportation company's stock, valued at approximately $310,489,000. Kingstone Capital Partners Texas LLC owned 0.43% of Canadian National Railway at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Dagco Inc. bought a new stake in Canadian National Railway during the first quarter worth approximately $32,000. Bruce G. Allen Investments LLC raised its stake in Canadian National Railway by 44.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after acquiring an additional 106 shares during the last quarter. CX Institutional acquired a new stake in Canadian National Railway during the 1st quarter worth about $39,000. Brooklyn Investment Group grew 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 period. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Canadian National Railway by 42.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company's stock valued at $58,000 after acquiring an additional 167 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. National Bank Financial lowered shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Canadian National Railway from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Evercore ISI cut shares of 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 note on Wednesday, July 23rd. Argus raised shares of Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Finally, Susquehanna decreased their price target on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $118.36.

Canadian National Railway Stock Down 1.3%

Shares of Canadian National Railway stock traded down $1.19 on Monday, hitting $92.13. The company had a trading volume of 1,641,349 shares, compared to its average volume of 1,544,458. The firm has a market capitalization of $57.19 billion, a P/E ratio of 17.72, a P/E/G ratio of 2.15 and a beta of 0.94. Canadian National Railway Company has a twelve month low of $91.07 and a twelve month high of $118.46. 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 stock has a 50-day moving average of $95.64 and a 200-day moving average of $99.32.

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

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be given a dividend of $0.6507 per share. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 8th. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. Canadian National Railway's payout ratio is 50.19%.

Canadian National Railway 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.