Canadian National Railway Company $CNI Shares Purchased by Tidal Investments LLC

Tidal Investments LLC grew its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 26.9% in the second quarter, Holdings Channel reports. The institutional investor owned 85,258 shares of the transportation company’s stock after acquiring an additional 18,080 shares during the quarter. Tidal Investments LLC’s holdings in Canadian National Railway were worth $10,170,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CNI. AQR Capital Management LLC acquired a new position in Canadian National Railway in the 1st quarter valued at $311,000. Focus Partners Wealth raised its stake in 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 purchasing an additional 1,146 shares during the period. Schnieders Capital Management LLC. purchased a new stake in shares of Canadian National Railway during the 2nd quarter valued at approximately $202,000. EverSource Wealth Advisors LLC raised its position in Canadian National Railway by 52.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 383 shares during the period. Finally, Baird Financial Group Inc. increased its position in shares of Canadian National Railway by 2.9% during the second 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.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CNI shares. Citizens Jmp initiated coverage on Canadian National Railway in a research note on Wednesday, July 15th. They set a “market perform” rating on the stock. Wells Fargo & Company increased their target price on Canadian National Railway from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Citigroup increased their price target on shares of Canadian National Railway from $124.00 to $141.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. National Bank Financial set a $124.00 target price on Canadian National Railway in a research report on Thursday, June 25th. Finally, Evercore upgraded shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price target for the company in a research report on Thursday, June 25th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.40.

Canadian National Railway Stock Up 1.0%

Canadian National Railway stock opened at $122.35 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $131.55. The company has a market cap of $74.04 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 2.16 and a beta of 0.94. The stock’s 50 day moving average price is $125.91 and its 200 day moving average price is $116.64.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the firm posted $1.87 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. On average, sell-side analysts predict that Canadian National Railway Company will post 5.82 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio is 45.92%.

Canadian National Railway Profile

Canadian National Railway Company (NYSE:CNI) is a transportation and logistics company that operates a major freight railway network across Canada and the United States. Its rail system connects the Atlantic, Pacific and Gulf coasts with major industrial centers, ports and distribution markets, supporting trade across North America.

CN transports a diverse range of products, including grain and fertilizers, coal and minerals, forest products, petroleum and chemicals, metals, automotive goods, and consumer and manufactured products.