Notis McConarty Edward Buys New Shares in Canadian National Railway Company $CNI

Notis McConarty Edward bought a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 27,487 shares of the transportation company’s stock, valued at approximately $3,278,000. Canadian National Railway makes up 1.4% of Notis McConarty Edward’s holdings, making the stock its 27th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. High Point Wealth Management LLC acquired a new position in Canadian National Railway in the 4th quarter valued at approximately $27,000. MidFirst Bank bought a new stake in shares of Canadian National Railway in the 4th quarter worth approximately $31,000. Curio Wealth LLC acquired a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Canadian National Railway by 378.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after purchasing an additional 280 shares in the last quarter. Finally, MBM Wealth Consultants LLC bought a new stake in shares of Canadian National Railway during the first quarter valued at approximately $37,000. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CNI shares. National Bank Financial set a $124.00 target price on Canadian National Railway in a research note on Thursday, June 25th. Stephens upgraded shares of Canadian National Railway to a “hold” rating in a research note on Wednesday, July 8th. Citizens Jmp initiated coverage on shares of Canadian National Railway in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Barclays boosted 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. Finally, Bank of America increased their price objective on shares of Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.40.

Canadian National Railway Trading Up 0.9%

Shares of CNI stock opened at $127.75 on Thursday. The company has a market capitalization of $77.31 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.36 and a beta of 0.95. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $131.55. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $123.59 and a 200 day moving average price of $114.26.

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 firm had revenue of $3.35 billion for 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 company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 earnings per share. Research analysts forecast that Canadian National Railway Company will post 5.81 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway’s payout ratio is presently 47.34%.

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.