Mckinley Capital Management LLC Delaware decreased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 18.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,081 shares of the transportation company’s stock after selling 2,493 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Canadian National Railway were worth $1,025,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC acquired a new stake in shares of Canadian National Railway in the 2nd quarter valued at about $34,000. Tortoise Investment Management LLC bought a new position in shares of Canadian National Railway in the 1st quarter valued at about $36,000. Brand Asset Management Group Inc. bought a new position in shares of Canadian National Railway in the 1st quarter valued at about $36,000. CWM LLC grew its holdings in shares of Canadian National Railway by 96.0% in the 2nd quarter. CWM LLC now owns 437 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 214 shares in the last quarter. Finally, Icon Wealth Partners LLC bought a new position in shares of Canadian National Railway in the 1st quarter valued at about $41,000. 53.77% of the stock is currently owned by hedge funds and other institutional investors.
CNI has been the subject of several analyst reports. Credit Suisse Group raised their price objective on Canadian National Railway from $101.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. ValuEngine cut Canadian National Railway from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BMO Capital Markets upgraded Canadian National Railway to a “market perform” rating and set a $125.00 price objective for the company in a report on Tuesday, April 30th. They noted that the move was a valuation call. Stephens raised their price objective on Canadian National Railway from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, Goldman Sachs Group initiated coverage on Canadian National Railway in a report on Wednesday, July 10th. They issued a “neutral” rating and a $97.00 price objective for the company. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Canadian National Railway has an average rating of “Hold” and a consensus price target of $98.78.
Canadian National Railway stock traded down $1.94 during midday trading on Friday, reaching $89.90. 596,847 shares of the company’s stock were exchanged, compared to its average volume of 760,476. Canadian National Railway has a 52 week low of $70.36 and a 52 week high of $96.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 0.69. The firm has a market cap of $66.19 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 1.81 and a beta of 1.03. The stock’s 50-day simple moving average is $93.24 and its 200 day simple moving average is $90.63.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.47. Canadian National Railway had a return on equity of 24.15% and a net margin of 29.50%. The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter last year, the company posted $1.51 earnings per share. Canadian National Railway’s quarterly revenue was up 9.0% on a year-over-year basis. Research analysts forecast that Canadian National Railway will post 4.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a dividend of $0.411 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $1.64 dividend on an annualized basis and a yield of 1.83%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.40. Canadian National Railway’s dividend payout ratio (DPR) is presently 38.94%.
Canadian National Railway Profile
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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