Y Intercept Hong Kong Ltd Makes New $823,000 Investment in Canadian National Railway (NYSE:CNI)

Y Intercept Hong Kong Ltd purchased a new position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,023 shares of the transportation company’s stock, valued at approximately $823,000.

A number of other hedge funds have also made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Canadian National Railway by 6.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 15,547 shares of the transportation company’s stock worth $1,837,000 after acquiring an additional 961 shares during the period. ORG Partners LLC bought a new position in shares of Canadian National Railway in the second quarter worth about $34,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of Canadian National Railway by 5.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,817 shares of the transportation company’s stock worth $2,105,000 after purchasing an additional 895 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Canadian National Railway by 1.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 16,688 shares of the transportation company’s stock valued at $1,972,000 after purchasing an additional 219 shares during the period. Finally, Blue Trust Inc. grew its holdings in Canadian National Railway by 19.3% in the 2nd quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock valued at $77,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNI. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $126.00 to $130.00 in a report on Tuesday, November 12th. Evercore ISI cut their price objective on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research report on Wednesday, October 23rd. Finally, Stephens reissued an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $125.86.

Canadian National Railway Stock Performance

Shares of NYSE:CNI opened at $103.84 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The business’s fifty day moving average price is $110.61 and its two-hundred day moving average price is $115.34. Canadian National Railway has a fifty-two week low of $103.82 and a fifty-two week high of $134.02. The stock has a market capitalization of $65.40 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.46 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts predict that Canadian National Railway will post 5.31 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 38.14%.

Canadian National Railway Company Profile

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.