Public Employees Retirement System of Ohio Acquires New Position in Canadian National Railway Company $CNI

Public Employees Retirement System of Ohio bought a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 144,020 shares of the transportation company’s stock, valued at approximately $17,174,000.

A number of other institutional investors also recently modified their holdings of CNI. AQR Capital Management LLC acquired a new stake in Canadian National Railway during the first quarter valued at $311,000. Focus Partners Wealth increased its position in Canadian National Railway by 11.1% in the 1st quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after purchasing an additional 1,146 shares during the last quarter. Schnieders Capital Management LLC. purchased a new stake in shares of Canadian National Railway during the 2nd quarter worth about $202,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Canadian National Railway by 52.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock valued at $116,000 after buying an additional 383 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of Canadian National Railway by 2.9% during the 2nd quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock valued at $1,778,000 after buying an additional 474 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Trading Down 0.5%

Shares of CNI stock opened at $125.89 on Friday. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $131.55. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $125.18 and its two-hundred day moving average is $115.59. The company has a market cap of $76.18 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. Canadian National Railway’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 earnings per share. Equities analysts predict that Canadian National Railway Company will post 5.81 EPS for the current year.

Canadian National Railway Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio (DPR) is 47.34%.

Analyst Ratings Changes

Several equities research analysts recently commented on CNI shares. Wells Fargo & Company boosted their price target on Canadian National Railway from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Royal Bank Of Canada lifted their target price on shares of Canadian National Railway from $195.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Susquehanna reissued a “neutral” rating and issued a $140.00 target price (up from $138.00) on shares of Canadian National Railway in a research report on Tuesday, July 14th. Citizens Jmp started coverage on shares of Canadian National Railway in a research note on Wednesday, July 15th. They set a “market perform” rating on the stock. Finally, Stephens upgraded shares of Canadian National Railway to a “hold” rating in a report on Wednesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway presently has an average rating of “Moderate Buy” and an average target price of $137.40.

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.