Public Employees Retirement System of Ohio Makes New Investment in Canadian National Railway Company $CNI

Key Points

• Public Employees Retirement System of Ohio purchased 144,020 Canadian National Railway shares worth approximately $17.2 million, while institutional investors collectively own 80.74% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $137.40; Wells Fargo recently raised its target to $145.
• Canadian National Railway exceeded quarterly earnings and revenue estimates, reporting $1.50 in EPS and $3.35 billion in revenue. The company also declared a quarterly dividend of $0.915 per share, representing a 2.9% annualized yield.

Public Employees Retirement System of Ohio bought a new stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 144,020 shares of the transportation company's stock, valued at approximately $17,174,000.

Several other hedge funds have also made changes to their positions in CNI. Minot DeBlois Advisors LLC grew its stake in Canadian National Railway by 2.0% during the 4th quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company's stock worth $507,000 after buying an additional 103 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Canadian National Railway by 19.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company's stock worth $63,000 after acquiring an additional 103 shares during the last quarter. Tacita Capital Inc increased its holdings in shares of Canadian National Railway by 0.6% in the 4th quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company's stock worth $1,960,000 after acquiring an additional 109 shares during the period. Roberts Glore & Co. Inc. IL lifted its position in Canadian National Railway by 1.5% in the 4th quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company's stock valued at $715,000 after purchasing an additional 110 shares during the last quarter. Finally, Grove Bank & Trust boosted its stake in Canadian National Railway by 20.4% during the 2nd quarter. Grove Bank & Trust now owns 673 shares of the transportation company's stock valued at $80,000 after purchasing an additional 114 shares during the period. Institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CNI shares. Wells Fargo & Company raised their price target on shares of Canadian National Railway from $135.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. National Bank Financial set a $124.00 target price on Canadian National Railway in a research note on Thursday, June 25th. Benchmark reissued a "hold" rating on shares of Canadian National Railway in a research note on Monday, July 27th. Citizens Jmp began coverage on Canadian National Railway in a report on Wednesday, July 15th. They set a "market perform" rating on the stock. Finally, Stephens upgraded shares of Canadian National Railway to a "hold" rating in a research note on Wednesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Canadian National Railway has a consensus rating of "Moderate Buy" and an average price target of $137.40.

Canadian National Railway Stock Performance

NYSE:CNI opened at $125.89 on Friday. The company has a 50-day moving average of $125.18 and a 200-day moving average of $115.59. The firm has a market cap of $76.18 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 0.99. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $131.55.

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

Canadian National Railway Dividend Announcement

The business 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. 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 is currently 47.34%.

About Canadian National Railway

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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