Puzo Michael J Buys New Position in Canadian National Railway Company $CNI

Key Points

• Puzo Michael J initiated a position in Canadian National Railway by purchasing 49,603 shares valued at approximately $5.9 million. Institutional investors collectively own 80.74% of CNI.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $137.40; nine analysts rate the stock a Buy and eight rate it a Hold.
• Canadian National Railway exceeded quarterly expectations, reporting $1.50 in EPS and $3.35 billion in revenue, while announcing a quarterly dividend of $0.915 per share, representing a 2.9% yield.

Puzo Michael J bought 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 SEC. The firm bought 49,603 shares of the transportation company's stock, valued at approximately $5,915,000. Canadian National Railway accounts for approximately 1.5% of Puzo Michael J's holdings, making the stock its 27th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNI. Lazard Asset Management LLC boosted its holdings in shares of Canadian National Railway by 639,137.0% in the third quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company's stock valued at $844,353,000 after acquiring an additional 8,954,310 shares in the last quarter. Norges Bank acquired a new position in shares of Canadian National Railway during the fourth quarter valued at approximately $570,161,000. FIL Ltd raised its holdings in Canadian National Railway by 49.5% during the fourth quarter. FIL Ltd now owns 15,745,744 shares of the transportation company's stock worth $1,557,309,000 after purchasing an additional 5,210,403 shares in the last quarter. AQR Capital Management LLC raised its holdings in Canadian National Railway by 6,329.2% during the fourth quarter. AQR Capital Management LLC now owns 1,234,030 shares of the transportation company's stock worth $122,050,000 after purchasing an additional 1,214,836 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Canadian National Railway by 15.1% in the fourth quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company's stock worth $889,462,000 after purchasing an additional 1,182,106 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays increased their price target on Canadian National Railway from $109.00 to $130.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. Susquehanna restated a "neutral" rating and issued a $140.00 price objective (up from $138.00) on shares of Canadian National Railway in a report on Tuesday, July 14th. Stephens raised Canadian National Railway to a "hold" rating in a research note on Wednesday, July 8th. Evercore raised Canadian National Railway from an "in-line" rating to an "outperform" rating and set a $124.00 target price on the stock in a report on Thursday, June 25th. Finally, Royal Bank Of Canada boosted their price target on shares of Canadian National Railway from $195.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on 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

CNI opened at $127.75 on Thursday. The firm has a market cap of $77.31 billion, a PE ratio of 22.65, a P/E/G ratio of 2.36 and a beta of 0.95. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99. The business has a fifty day simple moving average of $123.59 and a 200-day simple moving average of $114.26. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $131.55.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced 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. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the firm earned $1.87 earnings per share. Canadian National Railway's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities analysts predict that Canadian National Railway Company will post 5.81 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 yield of 2.9%. The ex-dividend date is Tuesday, September 8th. Canadian National Railway's payout ratio is presently 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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