5,222 Shares in Canadian National Railway Company $CNI Purchased by Summit Global Investments

Summit Global Investments purchased a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,222 shares of the transportation company’s stock, valued at approximately $537,000.

Other large investors have also made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in Canadian National Railway in the first quarter valued at approximately $311,000. Focus Partners Wealth increased its holdings in shares of Canadian National Railway by 11.1% during the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after buying an additional 1,146 shares in the last quarter. Schnieders Capital Management LLC. acquired a new position in shares of Canadian National Railway during the second quarter worth $202,000. EverSource Wealth Advisors LLC lifted its stake in shares of Canadian National Railway by 52.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 383 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in shares of Canadian National Railway by 2.9% in the 2nd quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock valued at $1,778,000 after acquiring an additional 474 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stephens upgraded Canadian National Railway to a “hold” rating in a research report on Wednesday, July 8th. Royal Bank Of Canada increased their target price on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Canadian Imperial Bank of Commerce lifted their price target on Canadian National Railway from C$182.00 to C$185.00 and gave the company an “outperformer” rating in a research note on Thursday, June 25th. Barclays boosted their price target on Canadian National Railway from $99.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Finally, Evercore raised Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price objective for the company in a research note on Thursday, June 25th. Eight analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Canadian National Railway presently has an average rating of “Moderate Buy” and an average price target of $132.12.

Canadian National Railway Price Performance

CNI stock opened at $127.81 on Thursday. 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 firm has a market cap of $77.46 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.43 and a beta of 0.96. The company’s fifty day simple moving average is $119.44 and its 200 day simple moving average is $110.29. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $129.52.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.31. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 EPS. On average, analysts expect that Canadian National Railway Company will post 5.67 earnings per share for the current year.

Canadian National Railway Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, June 9th. Canadian National Railway’s payout ratio is 48.55%.

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.