Cullen Capital Management LLC Purchases New Position in Canadian National Railway Company $CNI

Cullen Capital Management LLC purchased a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the second quarter, Holdings Channel reports. The fund purchased 19,278 shares of the transportation company’s stock, valued at approximately $2,299,000.

Other hedge funds also recently bought and sold shares of the company. Minot DeBlois Advisors LLC grew its holdings in Canadian National Railway by 2.0% in the fourth quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company’s stock valued at $507,000 after purchasing an additional 103 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Canadian National Railway by 19.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company’s stock worth $63,000 after buying an additional 103 shares during the period. Tacita Capital Inc raised its stake in shares of Canadian National Railway by 0.6% during the 4th quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company’s stock worth $1,960,000 after buying an additional 109 shares during the period. Roberts Glore & Co. Inc. IL lifted its position in shares of Canadian National Railway by 1.5% during the 4th quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company’s stock valued at $715,000 after buying an additional 110 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in shares of Canadian National Railway by 20.4% during the 2nd quarter. Grove Bank & Trust now owns 673 shares of the transportation company’s stock valued at $80,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $127.44 on Tuesday. The business’s 50 day moving average price is $124.21 and its 200 day moving average price is $114.95. The company has a market cap of $77.12 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 2.42 and a beta of 0.95. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. Canadian National Railway Company has a one year low of $90.74 and a one year high of $131.55.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the business earned $1.87 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, research 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 declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $3.66 annualized dividend and a dividend yield of 2.9%. Canadian National Railway’s payout ratio is presently 47.34%.

Wall Street Analyst Weigh In

CNI has been the topic of a number of research analyst reports. Citigroup lifted 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. Wells Fargo & Company increased their price objective on shares of Canadian National Railway from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Weiss Ratings raised shares of Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Susquehanna reiterated 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. Finally, Canadian Imperial Bank of Commerce boosted their target price on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 25th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.