Summitry LLC Makes New $22.15 Million Investment in Canadian National Railway Company $CNI

Summitry LLC acquired a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 215,518 shares of the transportation company’s stock, valued at approximately $22,149,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC raised its holdings 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 purchasing an additional 8,954,310 shares during the last quarter. Norges Bank acquired a new position in Canadian National Railway in the fourth quarter valued at about $570,161,000. FIL Ltd increased its stake in Canadian National Railway by 49.5% during the 4th quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock worth $1,557,309,000 after purchasing an additional 5,210,403 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Canadian National Railway by 6,329.2% during the fourth quarter. AQR Capital Management LLC now owns 1,234,030 shares of the transportation company’s stock worth $122,050,000 after acquiring an additional 1,214,836 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Canadian National Railway by 15.1% in the 4th quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company’s stock valued at $889,462,000 after purchasing an additional 1,182,106 shares during the period. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $127.15 on Friday. Canadian National Railway Company has a one year low of $90.74 and a one year high of $131.55. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.49. The business’s 50 day simple moving average is $121.62 and its 200 day simple moving average is $111.67. The stock has a market capitalization of $77.06 billion, a PE ratio of 22.54, a PEG ratio of 2.38 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm earned $1.87 earnings per share. Canadian National Railway’s quarterly revenue was up 11.3% on a year-over-year basis. As a group, research analysts forecast that Canadian National Railway Company will post 5.78 earnings per share for the current year.

Canadian National Railway Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th will be issued a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio (DPR) is presently 47.34%.

Analyst Ratings Changes

A number of research analysts recently weighed in on CNI shares. Wells Fargo & Company raised their target price on shares of Canadian National Railway from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Royal Bank Of Canada raised their price target on shares of Canadian National Railway from $195.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. National Bank Financial set a $124.00 price target on Canadian National Railway in a research note on Thursday, June 25th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $140.00 price objective (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus price target of $137.40.

Canadian National Railway 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.