Summit Global Investments Buys Shares of 5,222 Canadian National Railway Company $CNI

Summit Global Investments purchased a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,222 shares of the transportation company’s stock, valued at approximately $537,000.

A number of other hedge funds have also made changes to their positions in CNI. High Point Wealth Management LLC bought a new position in Canadian National Railway in the 4th quarter worth approximately $27,000. MidFirst Bank bought a new stake in shares of Canadian National Railway in the fourth quarter valued at approximately $31,000. Curio Wealth LLC bought a new stake in shares of Canadian National Railway in the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Canadian National Railway by 378.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after acquiring an additional 280 shares during the last quarter. Finally, MBM Wealth Consultants LLC acquired a new stake in shares of Canadian National Railway in the first quarter worth $37,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America upped their target price on Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Evercore upgraded shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price objective for the company in a research note on Thursday, June 25th. Royal Bank Of Canada raised their price objective on shares of Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Barclays lifted their target price on shares of Canadian National Railway from $99.00 to $109.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. Finally, Citigroup lifted their price objective on Canadian National Railway from $124.00 to $141.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.12.

Canadian National Railway Trading Up 0.6%

CNI stock opened at $127.81 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $129.52. The company has a market cap of $77.46 billion, a P/E ratio of 23.24, a PEG ratio of 2.43 and a beta of 0.96. The business has a fifty day moving average of $119.44 and a 200-day moving average of $110.29.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, hitting analysts’ consensus estimates of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm posted $1.85 earnings per share. Canadian National Railway’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts expect that Canadian National Railway Company will post 5.67 EPS for the current year.

Canadian National Railway Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a $0.915 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 2.9%. Canadian National Railway’s dividend payout ratio is currently 48.55%.

Canadian National Railway 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.