Norges Bank Invests $570.16 Million in Canadian National Railway Company $CNI

Norges Bank bought a new stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 4th quarter, Holdings Channel.com reports. The firm bought 5,764,854 shares of the transportation company’s stock, valued at approximately $570,161,000.

Other hedge funds have also bought and sold shares of the company. High Point Wealth Management LLC acquired a new stake in Canadian National Railway in the 4th quarter valued at about $27,000. Costello Asset Management INC lifted its stake in Canadian National Railway by 83.3% in the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 150 shares during the last quarter. Leonteq Securities AG acquired a new stake in Canadian National Railway in the 4th quarter valued at about $39,000. Fulcrum Asset Management LLP acquired a new stake in Canadian National Railway in the 3rd quarter valued at about $51,000. Finally, TFC Financial Management Inc. acquired a new stake in Canadian National Railway in the 4th quarter valued at about $61,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 0.0%

Shares of CNI stock opened at $118.54 on Monday. The firm has a 50 day moving average price of $109.59 and a two-hundred day moving average price of $103.86. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $72.04 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.27 and a beta of 0.96. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $119.87.

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, hitting the consensus estimate of $1.31. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business posted $1.85 earnings per share. As a group, analysts predict that Canadian National Railway Company will post 5.76 earnings per share for the current year.

Canadian National Railway Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.915 per share. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 3.1%. Canadian National Railway’s dividend payout ratio (DPR) is 48.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein raised their target price on shares of Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research note on Tuesday, March 31st. Bank of America upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their target price for the company from $117.00 to $122.00 in a research note on Thursday, April 9th. Barclays raised their target price on shares of Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada raised their target price on shares of Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, UBS Group downgraded shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $122.04.

Canadian National Railway Company 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.