Purpose Unlimited Inc. Invests $12.43 Million in Canadian National Railway Company $CNI

Purpose Unlimited Inc. bought a new stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 4th quarter, HoldingsChannel.com reports. The firm bought 125,667 shares of the transportation company’s stock, valued at approximately $12,429,000.

Other hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC raised its stake in Canadian National Railway by 639,137.0% during the 3rd quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock worth $844,353,000 after acquiring an additional 8,954,310 shares in the last quarter. Norges Bank purchased a new stake in Canadian National Railway in the fourth quarter valued at $570,161,000. FIL Ltd boosted its stake in Canadian National Railway by 49.5% in the fourth quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock valued at $1,557,309,000 after acquiring an additional 5,210,403 shares in the last quarter. Quadrature Capital Ltd boosted its stake in Canadian National Railway by 1,693.5% in the third quarter. Quadrature Capital Ltd now owns 1,739,700 shares of the transportation company’s stock valued at $164,043,000 after acquiring an additional 1,642,700 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Canadian National Railway by 6,329.2% in the fourth quarter. AQR Capital Management LLC now owns 1,234,030 shares of the transportation company’s stock valued at $122,050,000 after acquiring an additional 1,214,836 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Down 0.0%

Shares of CNI stock opened at $113.42 on Friday. The business’s fifty day moving average price is $114.30 and its 200 day moving average price is $106.30. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $122.48. The firm has a market capitalization of $68.81 billion, a PE ratio of 20.62, a P/E/G ratio of 2.17 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the business posted $1.85 earnings per share. Canadian National Railway’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that Canadian National Railway Company will post 5.76 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.2%. Canadian National Railway’s dividend payout ratio is 48.55%.

Analysts Set New Price Targets

CNI has been the topic of a number of research analyst reports. Sanford C. Bernstein lifted their target price on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research report on Tuesday, March 31st. Barclays boosted their target price on Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Canadian Imperial Bank of Commerce lifted their target price on shares of Canadian National Railway from C$164.00 to C$182.00 and gave the company an “outperformer” rating in a report on Tuesday, June 9th. Weiss Ratings lowered shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada raised their price objective on shares of Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus target price of $122.04.

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.