Y Intercept Hong Kong Ltd Invests $1.04 Million in Canadian National Railway Company $CNI

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Canadian National Railway, buying 10,170 shares worth about $1.04 million in the first quarter.
• Institutional interest in CNI remains strong, with 80.74% of the stock owned by hedge funds and other institutional investors.
• Analysts are mixed but generally positive: the stock carries a “Moderate Buy” consensus with a consensus price target of $129.94, while shares recently traded near $124.46 after the company reported earnings and maintained a quarterly dividend of $0.915 per share.

Y Intercept Hong Kong Ltd bought a new position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,170 shares of the transportation company's stock, valued at approximately $1,045,000.

Several other hedge funds have also modified their holdings of CNI. Minot DeBlois Advisors LLC increased its stake in Canadian National Railway by 2.0% in the 4th quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company's stock worth $507,000 after purchasing an additional 103 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Canadian National Railway by 19.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company's stock valued at $63,000 after buying an additional 103 shares in the last quarter. Tacita Capital Inc boosted its holdings in shares of Canadian National Railway by 0.6% in the fourth quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company's stock worth $1,960,000 after buying an additional 109 shares during the period. Roberts Glore & Co. Inc. IL boosted its holdings in shares of Canadian National Railway by 1.5% in the fourth quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company's stock worth $715,000 after buying an additional 110 shares during the period. Finally, Patten Group Inc. increased its position in shares of Canadian National Railway by 1.4% in the fourth quarter. Patten Group Inc. now owns 8,326 shares of the transportation company's stock worth $823,000 after acquiring an additional 114 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNI has been the topic of a number of recent analyst reports. Sanford C. Bernstein boosted their price target on shares of Canadian National Railway from $113.88 to $117.36 and gave the company a "market perform" rating in a report on Tuesday, March 31st. National Bank Financial set a $124.00 target price on shares of Canadian National Railway in a research note on Thursday, June 25th. Wells Fargo & Company increased their target price on Canadian National Railway from $110.00 to $135.00 and gave the company an "overweight" rating in a report on Wednesday. Weiss Ratings downgraded Canadian National Railway from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday. Finally, Canadian Imperial Bank of Commerce increased their price objective on Canadian National Railway from C$182.00 to C$185.00 and gave the stock an "outperformer" rating in a research note on Thursday, June 25th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.94.

Canadian National Railway Stock Up 0.1%

CNI stock traded up $0.12 during midday trading on Friday, reaching $124.46. The company had a trading volume of 1,332,513 shares, compared to its average volume of 1,369,770. The company has a 50 day moving average of $116.99 and a two-hundred day moving average of $108.65. The company has a market capitalization of $75.51 billion, a P/E ratio of 22.63, a PEG ratio of 2.34 and a beta of 0.96. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $125.26. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting analysts' consensus estimates of $1.31. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. Canadian National Railway's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 earnings per share. On average, equities research analysts expect that Canadian National Railway Company will post 5.72 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were paid a dividend of $0.915 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 2.9%. Canadian National Railway's dividend payout ratio (DPR) is 48.55%.

Canadian National Railway Company Profile

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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