Carlson Capital L.P. Purchases New Shares in Canadian National Railway Company $CNI

Carlson Capital L.P. purchased a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,900 shares of the transportation company’s stock, valued at approximately $510,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CNI. Employees Retirement System of Texas purchased a new stake in shares of Canadian National Railway in the 2nd quarter worth about $474,000. Northwest & Ethical Investments L.P. grew its holdings in Canadian National Railway by 10.7% in the second quarter. Northwest & Ethical Investments L.P. now owns 377,662 shares of the transportation company’s stock worth $39,330,000 after purchasing an additional 36,441 shares during the period. Russell Investments Group Ltd. grew its holdings in Canadian National Railway by 3.8% in the second quarter. Russell Investments Group Ltd. now owns 618,757 shares of the transportation company’s stock worth $64,354,000 after purchasing an additional 22,680 shares during the period. Verity & Verity LLC bought a new position in shares of Canadian National Railway during the second quarter valued at approximately $9,757,000. Finally, Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Canadian National Railway by 6.2% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 34,192 shares of the transportation company’s stock valued at $3,548,000 after purchasing an additional 2,007 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 1.5%

Shares of NYSE:CNI opened at $94.06 on Thursday. The company has a market cap of $57.99 billion, a P/E ratio of 18.09, a PEG ratio of 2.13 and a beta of 0.95. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $112.06. The stock’s fifty day moving average price is $94.70 and its 200-day moving average price is $98.25.

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

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th will be given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.8%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date is Tuesday, December 9th. Canadian National Railway’s payout ratio is currently 48.01%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNI. Barclays cut their price target on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Canadian National Railway in a report on Wednesday, October 8th. Wall Street Zen upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Susquehanna lifted their price target on Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Finally, Bank of America cut their price objective on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Canadian National Railway has an average rating of “Hold” and a consensus price target of $114.00.

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.