FNY Investment Advisers LLC Invests $5.16 Million in Canadian National Railway Company $CNI

FNY Investment Advisers LLC purchased a new stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 43,300 shares of the transportation company’s stock, valued at approximately $5,163,000. Canadian National Railway makes up 1.9% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 5th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. High Point Wealth Management LLC purchased a new stake in Canadian National Railway in the fourth quarter valued at $27,000. Curio Wealth LLC purchased a new position in shares of Canadian National Railway during the 4th quarter worth $31,000. MidFirst Bank purchased a new position in shares of Canadian National Railway during the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd increased its position in shares of 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 worth $35,000 after purchasing an additional 280 shares during the last quarter. Finally, MBM Wealth Consultants LLC acquired a new stake in shares of Canadian National Railway during the 1st quarter worth about $37,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 0.9%

Shares of NYSE CNI opened at $126.36 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $76.57 billion, a PE ratio of 22.40, a PEG ratio of 2.39 and a beta of 0.95. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $131.55. The stock has a fifty day simple moving average of $122.39 and a 200-day simple moving average of $112.55.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.11. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the company earned $1.87 EPS. Canadian National Railway’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts forecast that Canadian National Railway Company will post 5.78 earnings per share for the current year.

Canadian National Railway Announces Dividend

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 paid a dividend of $0.915 per share. The ex-dividend date is Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. Canadian National Railway’s dividend payout ratio is 47.34%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CNI shares. Barclays boosted their price objective on shares of Canadian National Railway from $109.00 to $130.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Stephens upgraded shares of Canadian National Railway to a “hold” rating in a research report on Wednesday, July 8th. Canadian Imperial Bank of Commerce boosted their price target on shares of 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. Bank of America upped their price objective on shares of Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Finally, Wells Fargo & Company increased their price objective on shares of Canadian National Railway from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $137.40.

About Canadian National Railway

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.