Somerville Kurt F Makes New Investment in Canadian National Railway Company $CNI

Somerville Kurt F bought a new stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 63,272 shares of the transportation company’s stock, valued at approximately $7,545,000. Canadian National Railway accounts for 1.8% of Somerville Kurt F’s investment portfolio, making the stock its 22nd biggest position.

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC increased its position in shares of 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 worth $844,353,000 after purchasing an additional 8,954,310 shares during the last quarter. Norges Bank acquired a new position in Canadian National Railway in the fourth quarter valued at about $570,161,000. FIL Ltd lifted its position in 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 buying an additional 5,210,403 shares during the last quarter. AQR Capital Management LLC boosted its stake in Canadian National Railway by 6,329.2% during the fourth quarter. AQR Capital Management LLC now owns 1,234,030 shares of the transportation company’s stock worth $122,050,000 after buying an additional 1,214,836 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Canadian National Railway by 15.1% during the fourth quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company’s stock valued at $889,462,000 after acquiring an additional 1,182,106 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.9%

Shares of CNI opened at $127.75 on Thursday. The stock has a market capitalization of $77.31 billion, a PE ratio of 22.65, a P/E/G ratio of 2.36 and a beta of 0.95. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $131.55. 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 $123.59 and its 200-day simple moving average is $114.26.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted $1.87 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th will be given 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 (DPR) is currently 47.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Canadian National Railway from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, July 27th. Citizens Jmp started coverage on shares of Canadian National Railway in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Monday, July 27th. Susquehanna restated a “neutral” rating and set a $140.00 price target (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Finally, Stephens upgraded Canadian National Railway to a “hold” rating in a research report on Wednesday, July 8th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and an average target price of $137.40.

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.