Van ECK Associates Corp Has $32.62 Million Stake in Canadian National Railway Company $CNI

Van ECK Associates Corp lifted its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 273,682 shares of the transportation company’s stock after purchasing an additional 4,878 shares during the period. Van ECK Associates Corp’s holdings in Canadian National Railway were worth $32,622,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. bought a new stake in Canadian National Railway in the 2nd quarter valued at $27,000. Curio Wealth LLC bought a new position in Canadian National Railway during the 4th quarter worth $31,000. MidFirst Bank bought a new position in Canadian National Railway during the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd increased its position in Canadian National Railway by 378.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after buying an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC acquired a new stake in shares of Canadian National Railway during the first quarter worth $37,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Canadian National Railway from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a research note on Thursday, June 25th. Citizens Jmp assumed coverage on shares of Canadian National Railway in a research note on Wednesday, July 15th. They issued a “market perform” rating for the company. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a report on Monday, July 27th. Finally, Stephens upgraded shares of Canadian National Railway to a “hold” rating in a research report on Wednesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of “Moderate Buy” and an average target price of $137.40.

Canadian National Railway Stock Performance

NYSE:CNI opened at $125.89 on Monday. The stock has a fifty day moving average price of $125.18 and a 200-day moving average price of $115.68. The company has a market cap of $76.18 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.35 and a beta of 0.95. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $131.55.

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

Canadian National Railway Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio is presently 47.34%.

Canadian National Railway Company 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.