Parvin Asset Management LLC Buys New Position in Canadian National Railway Company $CNI

Key Points

• Parvin Asset Management initiated a position in Canadian National Railway by purchasing 8,900 shares valued at approximately $1.06 million. Institutional investors and hedge funds collectively own 80.74% of the company.
• Canadian National Railway reported quarterly EPS of $1.50, exceeding estimates of $1.39, while revenue rose 11.3% year over year to $3.35 billion.
• Analysts assign the stock a “Moderate Buy” consensus rating with an average price target of $137.40, compared with its reported trading price of $127.65. The company also declared a quarterly dividend of $0.915 per share, yielding about 2.9% annually.

Parvin Asset Management LLC purchased a new position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,900 shares of the transportation company's stock, valued at approximately $1,061,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its stake in shares of Canadian National Railway by 10.5% during the fourth quarter. Fisher Asset Management LLC now owns 2,279,778 shares of the transportation company's stock valued at $225,356,000 after acquiring an additional 216,963 shares during the period. Norges Bank acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $570,161,000. Clean Energy Transition LLP bought a new position in shares of Canadian National Railway in the 4th quarter worth $47,268,000. Act Two Investors LLC grew its stake in shares of Canadian National Railway by 35.9% during the fourth quarter. Act Two Investors LLC now owns 146,385 shares of the transportation company's stock worth $14,470,000 after purchasing an additional 38,688 shares during the period. Finally, Great Lakes Advisors LLC bought a new stake in Canadian National Railway in the second quarter valued at about $9,308,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stephens upgraded Canadian National Railway to a "hold" rating in a research report on Wednesday, July 8th. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a research note on Thursday, June 25th. Susquehanna restated a "neutral" rating and set a $140.00 price objective (up from $138.00) on shares of Canadian National Railway in a report on Tuesday, July 14th. Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a research note on Monday, July 27th. Finally, Citizens Jmp started coverage on shares of Canadian National Railway in a report on Wednesday, July 15th. They issued a "market perform" rating on the stock. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $137.40.

Canadian National Railway Trading Up 0.4%

NYSE:CNI opened at $127.65 on Thursday. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $131.55. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. The stock has a market capitalization of $77.25 billion, a PE ratio of 22.63, a price-to-earnings-growth ratio of 2.37 and a beta of 0.95. The business's 50-day simple moving average is $124.67 and its 200-day simple moving average is $115.34.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.Canadian National Railway's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.87 EPS. Sell-side analysts expect that Canadian National Railway Company will post 5.81 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is currently 47.34%.

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.

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