Summitry LLC Makes New Investment in Canadian National Railway Company $CNI

Key Points

• Summitry LLC purchased 215,518 shares of Canadian National Railway during the first quarter, valued at approximately $22.1 million. Institutional investors own 80.74% of the company.
• Canadian National Railway exceeded quarterly expectations, reporting $1.50 in EPS and $3.35 billion in revenue, with revenue up 11.3% year over year. The company also declared a quarterly dividend of $0.915 per share, representing a 2.9% yield.
• Analyst sentiment remains mixed, with eight Buy and nine Hold ratings. The stock has a consensus price target of $137.40, compared with its recent price of $127.15.

Summitry LLC purchased a new position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 215,518 shares of the transportation company's stock, valued at approximately $22,149,000.

Other large investors have also made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in shares of Canadian National Railway during the 1st quarter worth about $311,000. Focus Partners Wealth raised its holdings in Canadian National Railway by 11.1% in the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company's stock valued at $1,122,000 after acquiring an additional 1,146 shares in the last quarter. Schnieders Capital Management LLC. acquired a new position in Canadian National Railway in the second quarter worth about $202,000. EverSource Wealth Advisors LLC raised its position in shares of Canadian National Railway by 52.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company's stock valued at $116,000 after acquiring an additional 383 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Canadian National Railway by 2.9% in the 2nd quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company's stock worth $1,778,000 after buying an additional 474 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $127.15 on Friday. The business has a 50 day moving average price of $121.62 and a 200 day moving average price of $111.67. The company has a market cap of $77.06 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.38 and a beta of 0.96. The company has a quick ratio of 0.49, a current ratio of 0.87 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 firm had revenue of $3.35 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.87 EPS. Research analysts predict that Canadian National Railway Company will post 5.78 earnings per share for the current year.

Canadian National Railway Dividend Announcement

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

Wall Street Analyst Weigh In

CNI has been the topic of several analyst reports. Barclays raised their price target on shares of 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 reissued a "neutral" rating and set a $140.00 price objective (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Stephens upgraded shares of Canadian National Railway to a "hold" rating in a report on Wednesday, July 8th. Wells Fargo & Company lifted their target price on Canadian National Railway from $135.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada increased their price objective on Canadian National Railway from $195.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Canadian National Railway currently has an average rating of "Hold" and a consensus price target of $137.40.

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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