Cornerstone Investment Partners LLC Takes Position in Canadian National Railway (CNI)

Cornerstone Investment Partners LLC acquired a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,234 shares of the transportation company’s stock, valued at approximately $201,000.

Other large investors have also made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Canadian National Railway in the first quarter valued at $117,000. Private Capital Group LLC grew its position in shares of Canadian National Railway by 913.9% in the first quarter. Private Capital Group LLC now owns 1,673 shares of the transportation company’s stock valued at $122,000 after purchasing an additional 1,508 shares during the period. Assetmark Inc. grew its position in shares of Canadian National Railway by 73.7% in the first quarter. Assetmark Inc. now owns 1,947 shares of the transportation company’s stock valued at $142,000 after purchasing an additional 826 shares during the period. Quad Cities Investment Group LLC purchased a new stake in shares of Canadian National Railway in the second quarter valued at $165,000. Finally, First Hawaiian Bank purchased a new stake in shares of Canadian National Railway in the third quarter valued at $175,000. 53.98% of the stock is owned by institutional investors and hedge funds.

CNI stock traded up $1.41 during trading on Friday, reaching $84.77. 148,714 shares of the stock traded hands, compared to its average volume of 1,267,517. Canadian National Railway has a 52-week low of $70.59 and a 52-week high of $91.90. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.54. The company has a market cap of $62.20 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 2.18 and a beta of 1.03.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, July 24th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.46. Canadian National Railway had a return on equity of 22.90% and a net margin of 42.08%. The firm had revenue of $3.63 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the business earned $1.34 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that Canadian National Railway will post 4.17 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 7th were given a dividend of $0.3429 per share. This represents a $1.37 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Thursday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is presently 35.94%.

A number of equities research analysts have recently commented on the company. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating in a research report on Thursday. Barclays lowered their price objective on Canadian National Railway from $80.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 25th. Stifel Nicolaus set a $83.00 price target on Canadian National Railway and gave the company a “hold” rating in a research report on Tuesday, July 24th. ValuEngine downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Tuesday, August 7th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Canadian National Railway has an average rating of “Hold” and an average price target of $91.98.

Canadian National Railway 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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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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