Point72 Europe London LLP Acquires New Holdings in Canadian National Railway Company $CNI

Key Points

• Point72 Europe London LLP has invested approximately $2.50 million in Canadian National Railway Company by purchasing 25,600 shares, according to their recent 13F filing with the SEC.
• Canadian National Railway Company has announced an increase in its quarterly dividend to $0.6507 per share, representing a dividend yield of 2.7% and a payout ratio of 49.81%.
• Analysts have variously rated Canadian National Railway with an average target price of $118.36, and the stock currently has a mix of ratings including "Strong Buy," "Buy," and "Hold."

Point72 Europe London LLP acquired a new stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,600 shares of the transportation company's stock, valued at approximately $2,495,000.

Other hedge funds also recently modified their holdings of the company. Shell Asset Management Co. lifted its stake in shares of Canadian National Railway by 0.5% in the 4th quarter. Shell Asset Management Co. now owns 21,387 shares of the transportation company's stock valued at $2,171,000 after purchasing an additional 100 shares during the period. Bruce G. Allen Investments LLC raised its holdings in shares of Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. Heartland Advisors Inc. grew its stake in Canadian National Railway by 0.9% in the 1st quarter. Heartland Advisors Inc. now owns 12,293 shares of the transportation company's stock valued at $1,198,000 after purchasing an additional 108 shares during the period. Voya Investment Management LLC increased its position in Canadian National Railway by 1.4% in the fourth quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company's stock worth $807,000 after buying an additional 112 shares during the last quarter. Finally, Gradient Investments LLC boosted its holdings in Canadian National Railway by 2.1% in the 1st quarter. Gradient Investments LLC now owns 5,409 shares of the transportation company's stock worth $527,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Stock Performance

Shares of CNI stock traded up $0.03 on Wednesday, reaching $96.66. The stock had a trading volume of 1,372,735 shares, compared to its average volume of 1,580,166. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. Canadian National Railway Company has a 1 year low of $91.65 and a 1 year high of $121.12. The stock has a market cap of $60.34 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 2.15 and a beta of 0.94. The company has a 50 day simple moving average of $98.16 and a 200 day simple moving average of $99.89.

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 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.Canadian National Railway's revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 EPS. Equities research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently declared 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. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway's dividend payout ratio is presently 49.81%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CNI shares. Evercore ISI downgraded 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 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. Barclays reduced their price target on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 23rd. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company decreased their target price on Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $118.36.

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.