Magnetar Financial LLC Takes $4.52 Million Position in Canadian National Railway Company $CNI

Magnetar Financial LLC bought a new stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 45,754 shares of the transportation company’s stock, valued at approximately $4,523,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lincluden Management Ltd. boosted its stake in shares of Canadian National Railway by 4.1% in the 3rd quarter. Lincluden Management Ltd. now owns 434,344 shares of the transportation company’s stock valued at $40,717,000 after purchasing an additional 17,257 shares in the last quarter. Kensington Investment Counsel LLC acquired a new stake in shares of Canadian National Railway in the 3rd quarter valued at $3,079,000. Scharf Investments LLC acquired a new stake in shares of Canadian National Railway in the 4th quarter valued at $8,283,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Canadian National Railway in the 3rd quarter valued at $32,174,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Canadian National Railway by 10.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,279,778 shares of the transportation company’s stock valued at $225,356,000 after purchasing an additional 216,963 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank Of Canada lifted their price target on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Sanford C. Bernstein lifted their price target on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a report on Tuesday, March 31st. Barclays lifted their price target on Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Weiss Ratings cut Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Finally, Citigroup lifted their price target on Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $122.04.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $117.75 on Wednesday. The stock has a 50-day simple moving average of $113.86 and a 200 day simple moving average of $105.98. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $122.48. The stock has a market capitalization of $71.44 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 2.25 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting the consensus estimate of $1.31. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.85 EPS. On average, research analysts anticipate that Canadian National Railway Company will post 5.76 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 9th. Canadian National Railway’s payout ratio is currently 48.55%.

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.