Forsta AP Fonden Raises Stock Position in Canadian National Railway Company $CNI

Forsta AP Fonden lifted its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.9% in the second quarter, Holdings Channel reports. The firm owned 104,000 shares of the transportation company’s stock after buying an additional 5,800 shares during the period. Forsta AP Fonden’s holdings in Canadian National Railway were worth $10,815,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CNI. Ballentine Partners LLC purchased a new position in Canadian National Railway during the 1st quarter worth $230,000. New York State Common Retirement Fund grew its position in shares of Canadian National Railway by 3.3% during the 1st quarter. New York State Common Retirement Fund now owns 36,402 shares of the transportation company’s stock worth $3,548,000 after buying an additional 1,175 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Canadian National Railway by 27.4% during the first quarter. SBI Securities Co. Ltd. now owns 945 shares of the transportation company’s stock valued at $92,000 after buying an additional 203 shares during the period. Larson Financial Group LLC raised its holdings in shares of Canadian National Railway by 33.3% in the first quarter. Larson Financial Group LLC now owns 1,546 shares of the transportation company’s stock valued at $151,000 after acquiring an additional 386 shares in the last quarter. Finally, Bridgewater Advisors Inc. purchased a new stake in Canadian National Railway in the first quarter worth about $216,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Down 1.3%

NYSE:CNI opened at $96.58 on Friday. The stock has a market capitalization of $59.54 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 2.13 and a beta of 0.95. Canadian National Railway Company has a 52 week low of $91.07 and a 52 week high of $112.97. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $94.88 and a 200 day moving average of $98.57.

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

Canadian National Railway Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $3.55 annualized dividend and a yield of 3.7%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s dividend payout ratio is currently 48.01%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Canadian National Railway in a research report on Wednesday, October 8th. National Bank Financial lowered shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 23rd. Barclays reduced their price objective on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a research note on Thursday, October 2nd. Raymond James Financial raised Canadian National Railway from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 17th. Finally, Wall Street Zen upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $114.00.

About Canadian National Railway

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.