Parvin Asset Management LLC Buys New Shares in Canadian National Railway Company $CNI

Parvin Asset Management LLC bought a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,900 shares of the transportation company’s stock, valued at approximately $1,061,000.

Several other large investors have also recently bought and sold shares of the stock. MidFirst Bank acquired a new stake in shares of Canadian National Railway in the 4th quarter valued at 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 raised its position 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 acquiring an additional 280 shares in the last quarter. MBM Wealth Consultants LLC bought a new stake in Canadian National Railway during the first quarter worth $37,000. Finally, Leonteq Securities AG acquired a new stake in Canadian National Railway in the fourth quarter valued at $39,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CNI shares. Canadian Imperial Bank of Commerce lifted their price objective on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the company an “outperformer” rating in a research report on Thursday, June 25th. Weiss Ratings raised shares of Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Bank of America raised their target price 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. Barclays boosted their price target on Canadian National Railway from $109.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $140.00 price objective (up from $138.00) on shares of Canadian National Railway in a research report on Tuesday, July 14th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.40.

Canadian National Railway Price Performance

NYSE:CNI opened at $127.65 on Thursday. The company has a market cap of $77.25 billion, a P/E ratio of 22.63, a P/E/G ratio of 2.37 and a beta of 0.95. The firm’s fifty day moving average price is $124.67 and its two-hundred day moving average price is $115.34. Canadian National Railway Company has a one year low of $90.74 and a one year high of $131.55. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.11. The company 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%. Canadian National Railway’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.87 EPS. Equities analysts expect that Canadian National Railway Company will post 5.81 earnings per share for the current year.

Canadian National Railway Announces Dividend

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

About Canadian National Railway

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.