PensionDanmark Pensionsforsikringsaktieselskab Acquires 17,223 Shares of Canadian National Railway Company $CNI

PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,446 shares of the transportation company’s stock after buying an additional 17,223 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Canadian National Railway were worth $13,770,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNI. Lazard Asset Management LLC lifted its holdings in Canadian National Railway by 639,137.0% during the 3rd quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock valued at $844,353,000 after purchasing an additional 8,954,310 shares during the last quarter. Norges Bank acquired a new position in shares of Canadian National Railway in the fourth quarter valued at $570,161,000. FIL Ltd raised its position in shares of Canadian National Railway by 49.5% in the fourth quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock valued at $1,557,309,000 after purchasing an additional 5,210,403 shares during the period. AQR Capital Management LLC raised its position in shares of Canadian National Railway by 6,329.2% in the fourth quarter. AQR Capital Management LLC now owns 1,234,030 shares of the transportation company’s stock valued at $122,050,000 after purchasing an additional 1,214,836 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Canadian National Railway by 15.1% during the 4th quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company’s stock worth $889,462,000 after buying an additional 1,182,106 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Trading Up 0.1%

CNI stock opened at $126.59 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. The company’s 50-day simple moving average is $122.55 and its 200 day simple moving average is $112.65. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $131.55. The company has a market capitalization of $76.71 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 2.36 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.87 EPS. As a group, sell-side analysts anticipate that Canadian National Railway Company will post 5.78 earnings per share for the current year.

Canadian National Railway Announces Dividend

The firm 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 $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 8th. Canadian National Railway’s payout ratio is presently 47.34%.

Analyst Upgrades and Downgrades

CNI has been the subject of several research analyst reports. Weiss Ratings raised shares of Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Barclays increased their price target on shares of Canadian National Railway from $109.00 to $130.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a report on Monday, July 27th. Evercore raised Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 target price on the stock in a research report on Thursday, June 25th. Finally, Susquehanna reiterated a “neutral” rating and set a $140.00 target price (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Canadian National Railway has an average rating of “Hold” and an average price target of $137.40.

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.