Kirtland Hills Capital Management LLC Buys Shares of 6,181 Canadian National Railway Company $CNI

Kirtland Hills Capital Management LLC purchased a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,181 shares of the transportation company’s stock, valued at approximately $737,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Canadian National Railway by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 24,646,922 shares of the transportation company’s stock valued at $2,437,679,000 after purchasing an additional 346,670 shares during the last quarter. FIL Ltd grew its stake in Canadian National Railway by 49.5% during the 4th quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock worth $1,557,309,000 after buying an additional 5,210,403 shares during the last quarter. Caisse de depot et placement du Quebec grew its stake in Canadian National Railway by 1.1% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company’s stock worth $1,310,600,000 after buying an additional 157,000 shares during the last quarter. Lazard Asset Management LLC increased its position in Canadian National Railway by 2.0% during the 1st quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company’s stock valued at $934,488,000 after buying an additional 173,894 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Canadian National Railway by 15.1% during the 4th quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company’s stock valued at $889,462,000 after buying an additional 1,182,106 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $129.91 on Friday. The firm has a market capitalization of $78.62 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.42 and a beta of 0.95. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. The business has a fifty day moving average of $124.01 and a 200 day moving average of $114.60. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $131.55.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.87 EPS. As a group, research analysts expect that Canadian National Railway Company will post 5.81 earnings per share for the current year.

Canadian National Railway Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 2.8%. Canadian National Railway’s payout ratio is 47.34%.

Analysts Set New Price Targets

A number of research firms have commented on CNI. Citizens Jmp initiated coverage on Canadian National Railway in a research note on Wednesday, July 15th. They issued a “market perform” rating for the company. 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. Wells Fargo & Company upped their price objective on shares of Canadian National Railway from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Weiss Ratings raised shares of Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Finally, Bank of America lifted their target price on shares of Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.40.

Canadian National Railway 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.