Canadian National Railway Company $CNI Shares Purchased by Quadrature Capital Ltd

Quadrature Capital Ltd raised its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1,693.5% during the third quarter, Holdings Channel reports. The firm owned 1,739,700 shares of the transportation company’s stock after buying an additional 1,642,700 shares during the quarter. Canadian National Railway comprises 1.9% of Quadrature Capital Ltd’s portfolio, making the stock its 9th largest holding. Quadrature Capital Ltd’s holdings in Canadian National Railway were worth $164,043,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in shares of Canadian National Railway in the third quarter valued at $28,000. First Horizon Corp purchased a new stake in shares of Canadian National Railway in the 3rd quarter valued at $30,000. Costello Asset Management INC raised its holdings in shares of Canadian National Railway by 83.3% in the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after buying an additional 150 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in Canadian National Railway during the 3rd quarter worth about $50,000. Finally, Private Trust Co. NA lifted its stake in Canadian National Railway by 30.8% during the 3rd quarter. Private Trust Co. NA now owns 603 shares of the transportation company’s stock worth $57,000 after acquiring an additional 142 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 2.3%

CNI opened at $103.77 on Friday. The business has a fifty day moving average price of $103.54 and a 200 day moving average price of $98.46. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $113.08. The stock has a market capitalization of $63.62 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 2.21 and a beta of 0.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter last year, the company earned $1.82 EPS. Canadian National Railway’s revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 3.5%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, March 10th. Canadian National Railway’s dividend payout ratio is 49.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Zacks Research raised Canadian National Railway from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Citigroup reduced their price target on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. UBS Group lowered shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and lifted their price objective for the company from $146.00 to $151.00 in a report on Friday, November 28th. Finally, Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Company Profile

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.