AlphaCrest Capital Management LLC grew its position in shares of Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) by 444.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 17,571 shares of the transportation company’s stock after acquiring an additional 14,345 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Canadian National Railway were worth $1,976,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. JJJ Advisors Inc. increased its holdings in shares of Canadian National Railway by 266.7% in the first quarter. JJJ Advisors Inc. now owns 275 shares of the transportation company’s stock worth $37,000 after buying an additional 200 shares during the period. NuWave Investment Management LLC purchased a new position in shares of Canadian National Railway in the second quarter worth about $32,000. Clear Street Markets LLC purchased a new position in shares of Canadian National Railway in the second quarter worth about $34,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Canadian National Railway in the second quarter worth about $34,000. Finally, Tcwp LLC purchased a new position in shares of Canadian National Railway in the first quarter worth about $50,000. Institutional investors own 79.45% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Credit Suisse Group lifted their price objective on Canadian National Railway from $124.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 26th. Barclays boosted their price target on Canadian National Railway from $110.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, October 26th. Susquehanna Bancshares reduced their price target on Canadian National Railway from $129.00 to $109.00 and set a “neutral” rating on the stock in a report on Wednesday, September 28th. Desjardins boosted their price target on Canadian National Railway from C$167.00 to C$169.00 in a report on Wednesday, July 27th. Finally, Stephens boosted their price target on Canadian National Railway to $130.00 and gave the company an “outperform” rating in a report on Wednesday, July 27th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Canadian National Railway has a consensus rating of “Hold” and an average price target of $141.55.
Canadian National Railway Stock Performance
Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) last released its quarterly earnings data on Tuesday, October 25th. The transportation company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.12. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.32 billion. Canadian National Railway had a return on equity of 22.23% and a net margin of 29.99%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 EPS. Equities research analysts anticipate that Canadian National Railway will post 5.57 earnings per share for the current fiscal year.
Canadian National Railway Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 8th will be issued a dividend of $0.53 per share. The ex-dividend date is Wednesday, December 7th. This represents a $2.12 annualized dividend and a dividend yield of 1.68%. Canadian National Railway’s payout ratio is 40.55%.
Canadian National Railway Company Profile
Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.
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