Canadian National Railway (NYSE:CNI) Shares Bought by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC increased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 27.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,771 shares of the transportation company’s stock after purchasing an additional 376 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Canadian National Railway were worth $233,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Canadian National Railway in the fourth quarter valued at about $769,556,000. Canoe Financial LP boosted its holdings in shares of Canadian National Railway by 8,401.1% during the 4th quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock worth $503,423,000 after purchasing an additional 3,960,049 shares during the last quarter. Capital International Investors grew its position in shares of Canadian National Railway by 63.2% in the fourth quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock valued at $957,845,000 after purchasing an additional 2,951,506 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Canadian National Railway by 9.6% in the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. Finally, FIL Ltd lifted its position in Canadian National Railway by 7.2% during the fourth quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock worth $2,412,032,000 after buying an additional 1,280,726 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Down 1.2 %

Canadian National Railway stock opened at $116.69 on Tuesday. The firm has a market capitalization of $74.04 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.07 and a beta of 0.89. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The stock’s fifty day simple moving average is $123.88 and its 200-day simple moving average is $126.25.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. As a group, equities analysts expect that Canadian National Railway will post 5.9 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a $0.625 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a yield of 2.14%. Canadian National Railway’s dividend payout ratio is currently 39.08%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CNI. Susquehanna dropped their target price on Canadian National Railway from $142.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, June 25th. Wells Fargo & Company started coverage on shares of Canadian National Railway in a research note on Friday, June 7th. They issued an “equal weight” rating and a $130.00 price target for the company. National Bank Financial upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Barclays upped their price objective on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Finally, Jefferies Financial Group began coverage on Canadian National Railway in a research note on Monday, April 8th. They set a “hold” rating and a $130.00 target price for the company. Eighteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $148.95.

Canadian National Railway Profile

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.