Assenagon Asset Management S.A. increased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 482.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,208 shares of the transportation company’s stock after purchasing an additional 47,388 shares during the period. Assenagon Asset Management S.A.’s holdings in Canadian National Railway were worth $5,120,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP boosted its stake in shares of Canadian National Railway by 46.8% during the 4th quarter. Two Sigma Advisers LP now owns 78,172 shares of the transportation company’s stock worth $5,795,000 after purchasing an additional 24,911 shares during the period. One Wealth Advisors LLC boosted its position in Canadian National Railway by 4.6% in the 4th quarter. One Wealth Advisors LLC now owns 3,424 shares of the transportation company’s stock valued at $254,000 after buying an additional 151 shares during the period. Triangle Securities Wealth Management purchased a new stake in Canadian National Railway in the 1st quarter valued at about $729,000. Blueshift Asset Management LLC purchased a new stake in Canadian National Railway in the 4th quarter valued at about $1,329,000. Finally, Commonwealth Bank of Australia boosted its position in Canadian National Railway by 7.7% in the 4th quarter. Commonwealth Bank of Australia now owns 77,514 shares of the transportation company’s stock valued at $5,741,000 after buying an additional 5,547 shares during the period. 55.54% of the stock is owned by hedge funds and other institutional investors.
Canadian National Railway stock traded down $0.70 during mid-day trading on Wednesday, reaching $93.02. 572,345 shares of the company traded hands, compared to its average volume of 959,218. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Canadian National Railway has a fifty-two week low of $70.36 and a fifty-two week high of $95.08. The firm has a market capitalization of $67.74 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.91 and a beta of 1.07.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Monday, April 29th. The transportation company reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.28. Canadian National Railway had a net margin of 29.86% and a return on equity of 23.64%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter in the prior year, the business posted $1.00 EPS. Canadian National Railway’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, sell-side analysts predict that Canadian National Railway will post 4.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.3982 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.59 dividend on an annualized basis and a yield of 1.71%. Canadian National Railway’s payout ratio is 38.46%.
Several equities research analysts have issued reports on CNI shares. BMO Capital Markets raised shares of Canadian National Railway to a “market perform” rating and set a $125.00 price objective for the company in a research report on Tuesday, April 30th. They noted that the move was a valuation call. Macquarie reissued a “hold” rating on shares of Canadian National Railway in a research report on Thursday, March 28th. Royal Bank of Canada cut shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating and set a $92.00 price objective for the company. in a research report on Tuesday, April 30th. Stephens boosted their price objective on shares of Canadian National Railway from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Finally, Stifel Nicolaus boosted their price target on shares of Canadian National Railway from $87.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $96.69.
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Canadian National Railway Company Profile
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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