Elevation Point Wealth Partners LLC Takes Position in Canadian National Railway Company $CNI

Elevation Point Wealth Partners LLC acquired a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the first quarter, Holdings Channel.com reports. The firm acquired 6,164 shares of the transportation company’s stock, valued at approximately $633,000.

Other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC lifted its position in Canadian National Railway by 639,137.0% during the third quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock valued at $844,353,000 after purchasing an additional 8,954,310 shares during the period. Norges Bank acquired a new stake in Canadian National Railway during the 4th quarter worth about $570,161,000. FIL Ltd raised its stake in shares of Canadian National Railway by 49.5% during the 4th quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock valued at $1,557,309,000 after buying an additional 5,210,403 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Canadian National Railway by 1,693.5% in the 3rd quarter. Quadrature Capital Ltd now owns 1,739,700 shares of the transportation company’s stock valued at $164,043,000 after buying an additional 1,642,700 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Canadian National Railway by 6,329.2% in the 4th quarter. AQR Capital Management LLC now owns 1,234,030 shares of the transportation company’s stock valued at $122,050,000 after buying an additional 1,214,836 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

CNI has been the topic of several analyst reports. Royal Bank Of Canada raised their target price on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. National Bank Financial set a $124.00 price target on Canadian National Railway in a report on Thursday, June 25th. Evercore upgraded Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price objective on the stock in a research report on Thursday, June 25th. Sanford C. Bernstein raised their price objective on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research note on Tuesday, March 31st. Finally, Citigroup lifted their target price on shares of Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.12.

Canadian National Railway Price Performance

NYSE:CNI opened at $122.81 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $123.00. The stock’s 50-day moving average price is $116.32 and its 200-day moving average price is $108.19. The stock has a market capitalization of $74.51 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released 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 company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.Canadian National Railway’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.85 EPS. As a group, equities analysts expect that Canadian National Railway Company will post 5.75 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The firm also recently announced 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. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 9th. Canadian National Railway’s dividend payout ratio is presently 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.