XTX Topco Ltd Grows Stock Holdings in Canadian National Railway (NYSE:CNI)

XTX Topco Ltd raised its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 548.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,854 shares of the transportation company’s stock after buying an additional 9,179 shares during the period. XTX Topco Ltd’s holdings in Canadian National Railway were worth $1,282,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stephens reduced their price target on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Stifel Nicolaus lowered their target price on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Barclays reduced their price objective on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company dropped their price objective on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Sixteen analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $137.35.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $117.11 on Friday. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. The firm has a 50 day moving average price of $116.23 and a 200 day moving average price of $122.20. The company has a market cap of $74.06 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.56 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the business posted $1.31 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts predict that Canadian National Railway will post 5.58 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.614 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s payout ratio is currently 39.07%.

About Canadian National Railway

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.