Canadian National Railway (NYSE:CNI) Shares Purchased by Park Place Capital Corp

Park Place Capital Corp increased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 563.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,237 shares of the transportation company’s stock after acquiring an additional 1,900 shares during the period. Park Place Capital Corp’s holdings in Canadian National Railway were worth $262,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Canadian National Railway in the 2nd quarter valued at about $26,000. Addison Advisors LLC raised its position in Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares in the last quarter. GAMMA Investing LLC raised its position in Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 207 shares in the last quarter. ORG Partners LLC acquired a new stake in Canadian National Railway in the 2nd quarter valued at about $34,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Canadian National Railway in the 1st quarter valued at about $64,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.3 %

NYSE:CNI opened at $113.44 on Wednesday. The stock’s 50 day moving average price is $115.50 and its 200 day moving average price is $121.05. The company has a market capitalization of $71.44 billion, a PE ratio of 18.09, a P/E/G ratio of 2.41 and a beta of 0.88. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted 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 return on equity of 23.58% and a net margin of 32.00%. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period in the previous year, the business posted $1.31 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, research analysts anticipate that Canadian National Railway will post 5.58 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a dividend of $0.614 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a yield of 2.17%. Canadian National Railway’s payout ratio is 39.08%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CNI. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Stephens reduced their price target on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective on the stock in a report on Monday. Evercore ISI dropped their price objective on Canadian National Railway from $128.00 to $119.00 and set an “in-line” rating on the stock in a report on Wednesday, September 25th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Sixteen research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $129.51.

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.