Tema Etfs LLC Purchases 5,320 Shares of Canadian National Railway Company $CNI

Key Points

• Tema Etfs LLC significantly increased its stake in Canadian National Railway Company by 144.8% during the first quarter, owning a total of 8,994 shares valued at $877,000.
• Recent analyst activity shows an increase in price targets for CNI stock, with Bank of America raising its objective from $105.00 to $115.00 and several firms issuing varying ratings.
• Canadian National Railway has declared a quarterly dividend of $0.6507 per share, marking a rise from the previous quarter's dividend, representing an annualized yield of 2.7%.

Tema Etfs LLC increased its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 144.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,994 shares of the transportation company's stock after buying an additional 5,320 shares during the quarter. Tema Etfs LLC's holdings in Canadian National Railway were worth $877,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Shell Asset Management Co. raised its stake in Canadian National Railway by 0.5% during the 4th quarter. Shell Asset Management Co. now owns 21,387 shares of the transportation company's stock worth $2,171,000 after buying an additional 100 shares during the period. Bruce G. Allen Investments LLC raised its stake in Canadian National Railway by 44.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after buying an additional 106 shares during the period. Heartland Advisors Inc. raised its stake in shares of 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 raised its stake in shares of Canadian National Railway by 1.4% in the 4th quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company's stock valued at $807,000 after purchasing an additional 112 shares during the period. Finally, Gradient Investments LLC raised its stake in shares of Canadian National Railway by 2.1% in the 1st quarter. Gradient Investments LLC now owns 5,409 shares of the transportation company's stock valued at $527,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Stock Up 0.8%

Shares of NYSE CNI traded up $0.75 during mid-day trading on Monday, hitting $96.85. The company had a trading volume of 974,845 shares, compared to its average volume of 1,636,694. The company has a market capitalization of $60.46 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 2.15 and a beta of 0.94. The firm has a 50-day simple moving average of $98.47 and a two-hundred day simple moving average of $99.97. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a one year low of $91.65 and a one year high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the business earned $1.84 EPS. Canadian National Railway's revenue was down 1.3% on a year-over-year basis. On average, equities analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be issued a dividend of $0.6507 per share. The ex-dividend date is Monday, September 8th. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a yield of 2.7%. Canadian National Railway's dividend payout ratio is 50.19%.

Analysts Set New Price Targets

Several analysts have issued reports on CNI shares. Susquehanna dropped their price target on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Argus raised Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Wall Street Zen raised Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Evercore ISI downgraded Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target on the stock. in a research note on Wednesday, July 23rd. Finally, National Bank Financial downgraded Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.