Magnetar Financial LLC Makes New $4.52 Million Investment in Canadian National Railway Company $CNI

Magnetar Financial LLC acquired a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 4th quarter, Holdings Channel.com reports. The firm acquired 45,754 shares of the transportation company’s stock, valued at approximately $4,523,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. High Point Wealth Management LLC bought a new stake in Canadian National Railway during the 4th quarter worth about $27,000. Curio Wealth LLC acquired a new position in shares of Canadian National Railway during the 4th quarter worth about $31,000. Caitong International Asset Management Co. Ltd grew its position in shares of Canadian National Railway by 378.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after buying an additional 280 shares during the period. Leonteq Securities AG acquired a new position in shares of Canadian National Railway during the 4th quarter worth about $39,000. Finally, Fulcrum Asset Management LLP acquired a new position in shares of Canadian National Railway during the 3rd quarter worth about $51,000. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Price Performance

Shares of CNI opened at $117.75 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. The stock has a 50 day simple moving average of $113.86 and a 200 day simple moving average of $105.98. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $122.48. The firm has a market capitalization of $71.44 billion, a PE ratio of 21.41, a P/E/G ratio of 2.25 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the firm earned $1.85 EPS. Canadian National Railway’s quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that Canadian National Railway Company will post 5.76 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a $0.915 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 annualized dividend and a dividend yield of 3.1%. Canadian National Railway’s payout ratio is currently 48.55%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CNI shares. Citigroup boosted their target price on Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Barclays boosted their target price on Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Weiss Ratings lowered Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Sanford C. Bernstein boosted their target price on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research report on Tuesday, March 31st. Finally, Royal Bank Of Canada boosted their target price on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $122.04.

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.