15,853 Shares in Canadian National Railway (NYSE:CNI) Purchased by Seven Eight Capital LP

Seven Eight Capital LP purchased a new position in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 15,853 shares of the transportation company’s stock, valued at approximately $1,873,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its position in shares of Canadian National Railway by 61.1% in the fourth quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock worth $20,375,000 after acquiring an additional 61,498 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Canadian National Railway by 1.1% in the 4th quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock valued at $201,351,000 after purchasing an additional 17,083 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Canadian National Railway during the 2nd quarter valued at $134,096,000. Koshinski Asset Management Inc. acquired a new stake in shares of Canadian National Railway during the 1st quarter worth $627,000. Finally, Virtu Financial LLC purchased a new position in shares of Canadian National Railway in the 4th quarter worth $816,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Down 1.7 %

Shares of Canadian National Railway stock opened at $117.00 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The business has a 50-day moving average of $116.30 and a 200-day moving average of $122.31. The company has a market capitalization of $73.68 billion, a PE ratio of 18.66, a P/E/G ratio of 2.56 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the business earned $1.31 EPS. Canadian National Railway’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts forecast that Canadian National Railway will post 5.58 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a $0.614 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.10%. Canadian National Railway’s dividend payout ratio is presently 39.08%.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of research reports. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Stifel Nicolaus decreased their target price on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. 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. Bank of America decreased their price objective on shares of Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Sanford C. Bernstein lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $146.25 to $130.67 in a research report on Monday, July 8th. Sixteen research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $137.35.

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.