Polar Asset Management Partners Inc. Acquires 15,000 Shares of Canadian National Railway Company $CNI

Key Points

• Polar Asset Management Partners Inc. increased its stake in Canadian National Railway by 60%, owning 40,000 shares valued at approximately $3.9 million as of the latest SEC filing.
• Canadian National Railway has recently announced a quarterly dividend increase to $0.6507, raising the annualized dividend yield to 2.7%.
• The stock currently has a consensus price target of $118.36 with varying analyst ratings, indicating mixed sentiment towards its future performance.

Polar Asset Management Partners Inc. grew its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 60.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,000 shares of the transportation company's stock after acquiring an additional 15,000 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Canadian National Railway were worth $3,897,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CNI. Dagco Inc. bought a new position in shares of Canadian National Railway during the first quarter worth approximately $32,000. Bruce G. Allen Investments LLC grew its position in 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 acquiring an additional 106 shares during the last quarter. CX Institutional acquired a new position in Canadian National Railway during the first quarter worth about $39,000. Brooklyn Investment Group boosted its stake in shares of Canadian National Railway by 354.3% in the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock valued at $42,000 after purchasing an additional 333 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Canadian National Railway by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after purchasing an additional 171 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Down 2.0%

NYSE CNI traded down $1.90 on Tuesday, hitting $93.35. 1,756,839 shares of the company were exchanged, compared to its average volume of 1,800,343. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The company has a market cap of $58.28 billion, a PE ratio of 17.95, a PEG ratio of 2.19 and a beta of 0.94. The stock has a fifty day moving average of $97.70 and a 200-day moving average of $99.71. Canadian National Railway Company has a 12 month low of $91.65 and a 12 month high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (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 company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period last year, the company earned $1.84 EPS. Canadian National Railway's revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have commented on CNI. Royal Bank Of Canada dropped their target price on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Barclays cut their target price on shares of Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Wells Fargo & Company cut their price target on shares of Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Finally, Raymond James Financial upgraded Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $118.36.

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.