Applied Capital LLC FL Takes Position in Canadian National Railway (NYSE:CNI)

Applied Capital LLC FL purchased a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,220 shares of the transportation company’s stock, valued at approximately $292,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Canadian National Railway in the fourth quarter valued at about $769,556,000. Canoe Financial LP raised its position in shares of Canadian National Railway by 8,401.1% in the 4th quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock valued at $503,423,000 after acquiring an additional 3,960,049 shares during the period. Capital International Investors boosted its stake in Canadian National Railway by 63.2% during the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock worth $957,845,000 after acquiring an additional 2,951,506 shares during the last quarter. Wellington Management Group LLP grew its holdings in Canadian National Railway by 9.6% during the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after purchasing an additional 1,907,938 shares during the period. Finally, FIL Ltd grew its holdings in Canadian National Railway by 7.2% during the fourth quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after purchasing an additional 1,280,726 shares during the period. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of CNI traded up $0.88 during midday trading on Tuesday, reaching $117.57. 787,257 shares of the stock were exchanged, compared to its average volume of 1,065,409. The stock’s 50 day simple moving average is $123.63 and its 200 day simple moving average is $126.22. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a market cap of $74.60 billion, a P/E ratio of 18.72, a PEG ratio of 2.07 and a beta of 0.89. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.16 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. On average, sell-side analysts expect that Canadian National Railway will post 5.9 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Friday, June 7th. Canadian National Railway’s payout ratio is currently 39.08%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNI. Stephens reaffirmed an “equal weight” rating and set a $140.00 price objective on shares of Canadian National Railway in a research note on Wednesday, April 24th. Wells Fargo & Company assumed coverage on Canadian National Railway in a research report on Friday, June 7th. They issued an “equal weight” rating and a $130.00 target price on the stock. Susquehanna reduced their price target on Canadian National Railway from $142.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $140.00 to $145.00 in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group initiated coverage on shares of Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 target price for the company. Eighteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $148.95.

Canadian National Railway Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.