Elefante Mark B Invests $4.14 Million in Canadian National Railway Company $CNI

Elefante Mark B purchased a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 34,693 shares of the transportation company’s stock, valued at approximately $4,137,000. Canadian National Railway makes up about 1.8% of Elefante Mark B’s holdings, making the stock its 25th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. High Point Wealth Management LLC purchased a new stake in shares of Canadian National Railway in the fourth quarter valued at approximately $27,000. MidFirst Bank purchased a new position in Canadian National Railway during the fourth quarter worth approximately $31,000. Curio Wealth LLC acquired a new position in Canadian National Railway during the fourth quarter worth $31,000. Caitong International Asset Management Co. Ltd boosted its stake in Canadian National Railway by 378.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after buying an additional 280 shares during the last quarter. Finally, MBM Wealth Consultants LLC purchased a new stake in Canadian National Railway in the 1st quarter valued at $37,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CNI shares. Citizens Jmp began coverage on Canadian National Railway in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Stephens raised shares of Canadian National Railway to a “hold” rating in a report on Wednesday, July 8th. Citigroup lifted their target price on shares of Canadian National Railway from $124.00 to $141.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Monday, July 27th. Finally, Barclays boosted their target price 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. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Canadian National Railway has an average rating of “Moderate Buy” and an average price target of $137.40.

Canadian National Railway Price Performance

NYSE:CNI opened at $129.91 on Monday. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week 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 company has a market capitalization of $78.62 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.42 and a beta of 0.95. The stock’s fifty day moving average is $124.01 and its two-hundred day moving average is $114.73.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 22.22% and a net margin of 26.92%.The company’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.87 EPS. Equities analysts expect that Canadian National Railway Company will post 5.81 EPS for the current year.

Canadian National Railway Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio (DPR) is 47.34%.

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.