Magnetar Financial LLC Buys New Shares in Canadian National Railway Company $CNI

Magnetar Financial LLC purchased a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 62,287 shares of the transportation company’s stock, valued at approximately $6,480,000.

A number of other hedge funds also recently made changes to their positions in CNI. Founders Capital Management LLC acquired a new stake in Canadian National Railway during the 2nd quarter valued at $3,335,000. TD Asset Management Inc boosted its position in Canadian National Railway by 2.3% in the 2nd quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock valued at $1,255,385,000 after buying an additional 273,974 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Canadian National Railway by 39.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock valued at $259,694,000 after acquiring an additional 755,518 shares in the last quarter. Cardinal Capital Management Inc. increased its position in shares of Canadian National Railway by 3.1% during the second quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company’s stock worth $76,178,000 after acquiring an additional 22,035 shares during the last quarter. Finally, Logan Capital Management Inc. increased its position in shares of Canadian National Railway by 50.7% during the first quarter. Logan Capital Management Inc. now owns 26,486 shares of the transportation company’s stock worth $2,581,000 after acquiring an additional 8,916 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Zacks Research downgraded Canadian National Railway from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Canadian National Railway in a research report on Wednesday, October 8th. Susquehanna raised their price target on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Wells Fargo & Company cut their price target on shares of Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $114.00.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $92.94 on Friday. Canadian National Railway Company has a twelve month low of $91.07 and a twelve month high of $112.97. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $57.30 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.13 and a beta of 0.95. The business has a 50 day simple moving average of $94.86 and a 200-day simple moving average of $98.42.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.05. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business posted $1.72 earnings per share. As a group, equities research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be issued a $0.8875 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $3.55 annualized dividend and a dividend yield of 3.8%. Canadian National Railway’s dividend payout ratio (DPR) is presently 48.01%.

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.