Arrowstreet Capital Limited Partnership Increases Stake in Canadian National Railway Company $CNI

Arrowstreet Capital Limited Partnership boosted its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 2.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,165,148 shares of the transportation company’s stock after purchasing an additional 173,410 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Canadian National Railway were worth $609,582,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. High Point Wealth Management LLC purchased a new stake in Canadian National Railway during the 4th quarter valued at about $27,000. Curio Wealth LLC purchased a new stake in Canadian National Railway during the 4th quarter valued at about $31,000. Caitong International Asset Management Co. Ltd grew its position in 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 valued at $35,000 after purchasing an additional 280 shares during the last quarter. Leonteq Securities AG purchased a new stake in Canadian National Railway during the 4th quarter valued at about $39,000. Finally, Fulcrum Asset Management LLP purchased a new stake in Canadian National Railway during the 3rd quarter valued at about $51,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

CNI opened at $119.02 on Friday. The company’s 50-day simple moving average is $113.32 and its two-hundred day simple moving average is $105.54. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $122.48. 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 market capitalization of $72.21 billion, a P/E ratio of 21.64, a P/E/G ratio of 2.28 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 for the quarter, hitting the consensus estimate of $1.31. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the business earned $1.85 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, analysts predict that Canadian National Railway Company will post 5.76 EPS for the current year.

Canadian National Railway Dividend Announcement

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

Wall Street Analysts Forecast Growth

CNI has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Barclays increased their price objective on shares of Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Canadian Imperial Bank of Commerce increased their price objective on shares of Canadian National Railway from C$164.00 to C$182.00 and gave the company an “outperformer” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada increased their price objective on shares of Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings cut shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Canadian National Railway presently has a consensus rating of “Hold” and a consensus target price 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.