Nykredit A S Takes Position in Canadian National Railway Company $CNI

Nykredit A S acquired a new stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 202,712 shares of the transportation company's stock, valued at approximately $24,183,000.

A number of other hedge funds have also recently bought and sold shares of CNI. AQR Capital Management LLC acquired a new stake in shares of Canadian National Railway during the first quarter worth $311,000. Focus Partners Wealth increased its stake in Canadian National Railway by 11.1% in the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company's stock valued at $1,122,000 after purchasing an additional 1,146 shares during the last quarter. Schnieders Capital Management LLC. acquired a new position in Canadian National Railway in the second quarter valued at $202,000. EverSource Wealth Advisors LLC lifted its position in Canadian National Railway by 52.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company's stock worth $116,000 after buying an additional 383 shares during the period. Finally, Baird Financial Group Inc. lifted its position in Canadian National Railway by 2.9% during the second quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company's stock worth $1,778,000 after buying an additional 474 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock opened at $123.13 on Friday. The business's fifty day moving average price is $125.68 and its 200 day moving average price is $116.12. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $131.55. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $74.51 billion, a P/E ratio of 21.83, a PEG ratio of 2.17 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.39 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.87 earnings per share. As a group, research analysts anticipate that Canadian National Railway Company will post 5.82 earnings per share for the current year.

Canadian National Railway Announces Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.0%. Canadian National Railway's payout ratio is presently 47.34%.

Analyst Upgrades and Downgrades

Several research firms have commented on CNI. Bank of America lifted their price target on Canadian National Railway from $132.00 to $134.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Stephens upgraded shares of Canadian National Railway to a "hold" rating in a report on Wednesday, July 8th. Benchmark reissued a "hold" rating on shares of Canadian National Railway in a research report on Monday, July 27th. Citigroup boosted their target price on shares of Canadian National Railway from $124.00 to $141.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Finally, Citizens Jmp began coverage on shares of Canadian National Railway in a research report on Wednesday, July 15th. They set a "market perform" rating for the company. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $137.40.

Canadian National Railway 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source