Murchinson Ltd. Takes $241,000 Position in Canadian National Railway (NYSE:CNI)

Murchinson Ltd. bought a new position in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,056 shares of the transportation company’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Immersion Capital LLP increased its holdings in shares of Canadian National Railway by 13.1% in the third quarter. Immersion Capital LLP now owns 122,234 shares of the transportation company’s stock worth $14,320,000 after purchasing an additional 14,200 shares during the last quarter. Janus Henderson Group PLC increased its stake in Canadian National Railway by 98.8% in the 3rd quarter. Janus Henderson Group PLC now owns 130,323 shares of the transportation company’s stock worth $15,231,000 after acquiring an additional 64,783 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of Canadian National Railway by 27.2% during the 3rd quarter. Hilltop Holdings Inc. now owns 2,903 shares of the transportation company’s stock worth $340,000 after acquiring an additional 620 shares in the last quarter. Benjamin Edwards Inc. bought a new position in shares of Canadian National Railway during the 3rd quarter valued at approximately $478,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Canadian National Railway by 13.2% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,511,719 shares of the transportation company’s stock valued at $176,999,000 after purchasing an additional 175,692 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CNI. Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Sanford C. Bernstein reduced their price objective on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Evercore ISI lowered their price objective on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $125.86.

Canadian National Railway Price Performance

Shares of CNI stock opened at $109.19 on Wednesday. The stock has a market capitalization of $68.77 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 2.59 and a beta of 0.89. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. Canadian National Railway has a twelve month low of $105.28 and a twelve month high of $134.02. The stock has a fifty day simple moving average of $112.10 and a two-hundred day simple moving average of $116.33.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. On average, analysts predict that Canadian National Railway will post 5.33 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.24%. Canadian National Railway’s dividend payout ratio is presently 39.26%.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.