Crestline Management LP Acquires Shares of 76,020 Canadian National Railway (NYSE:CNI)

Crestline Management LP bought a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) in the fourth quarter, Holdings Channel reports. The institutional investor bought 76,020 shares of the transportation company’s stock, valued at approximately $7,717,000.

Several other hedge funds have also made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Canadian National Railway by 48.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 108 shares during the period. Voya Investment Management LLC raised its stake in Canadian National Railway by 1.4% during the 4th quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company’s stock valued at $807,000 after purchasing an additional 112 shares during the last quarter. Crestwood Advisors Group LLC raised its stake in Canadian National Railway by 4.2% during the 4th quarter. Crestwood Advisors Group LLC now owns 2,814 shares of the transportation company’s stock valued at $286,000 after purchasing an additional 114 shares during the last quarter. Lowe Brockenbrough & Co. Inc. boosted its holdings in Canadian National Railway by 1.2% in the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 11,492 shares of the transportation company’s stock valued at $1,167,000 after purchasing an additional 139 shares during the period. Finally, Addison Advisors LLC grew its position in Canadian National Railway by 80.2% in the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock worth $32,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CNI shares. Loop Capital cut shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Stephens raised their price objective on Canadian National Railway from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday. Royal Bank of Canada lowered their price objective on Canadian National Railway from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Friday. Wells Fargo & Company reduced their target price on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Raymond James lowered shares of Canadian National Railway from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Canadian National Railway has a consensus rating of “Moderate Buy” and a consensus price target of $118.69.

Canadian National Railway Stock Performance

NYSE:CNI opened at $98.75 on Tuesday. The stock has a market capitalization of $62.07 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.95 and a beta of 0.97. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. Canadian National Railway has a 1 year low of $91.65 and a 1 year high of $129.18. The firm has a 50 day moving average of $98.01 and a 200-day moving average of $102.92.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $4.38 billion. Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $1.72 EPS. As a group, sell-side analysts anticipate that Canadian National Railway will post 5.52 EPS for the current fiscal year.

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.