MML Investors Services LLC Purchases 16,715 Shares of Canadian National Railway (CNI)
MML Investors Services LLC grew its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 89.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 35,438 shares of the transportation company’s stock after buying an additional 16,715 shares during the period. MML Investors Services LLC’s holdings in Canadian National Railway were worth $3,182,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNI. Zions Bancorporation bought a new stake in shares of Canadian National Railway during the third quarter valued at approximately $102,000. Palo Capital Inc. bought a new stake in shares of Canadian National Railway during the third quarter valued at approximately $114,000. Quad Cities Investment Group LLC bought a new stake in shares of Canadian National Railway during the second quarter valued at approximately $165,000. First Hawaiian Bank bought a new stake in shares of Canadian National Railway during the third quarter valued at approximately $175,000. Finally, Avestar Capital LLC bought a new stake in shares of Canadian National Railway during the third quarter valued at approximately $193,000. Hedge funds and other institutional investors own 53.77% of the company’s stock.
Several brokerages recently issued reports on CNI. Zacks Investment Research downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a report on Friday. Loop Capital reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 25th. ValuEngine downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Barclays decreased their price target on Canadian National Railway from $80.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, July 25th. Finally, Cowen reiterated a “buy” rating and set a $98.00 price target on shares of Canadian National Railway in a report on Wednesday, July 25th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $91.53.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 23rd. The transportation company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.38. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.58 billion. Canadian National Railway had a return on equity of 22.67% and a net margin of 42.06%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS. On average, equities analysts forecast that Canadian National Railway will post 4.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 7th will be paid a $0.3477 dividend. This represents a $1.39 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, December 6th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.34. Canadian National Railway’s dividend payout ratio is 35.94%.
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Canadian National Railway Company Profile
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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