Skandinaviska Enskilda Banken AB publ Acquires 3,810 Shares of Canadian National Railway (NYSE:CNI)

Skandinaviska Enskilda Banken AB publ raised its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,659 shares of the transportation company’s stock after acquiring an additional 3,810 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Canadian National Railway were worth $9,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CNI. Benjamin F. Edwards & Company Inc. boosted its position in Canadian National Railway by 6.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,021 shares of the transportation company’s stock valued at $475,000 after purchasing an additional 247 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Canadian National Railway by 130.1% during the second quarter. Intech Investment Management LLC now owns 79,925 shares of the transportation company’s stock valued at $9,443,000 after buying an additional 45,183 shares during the last quarter. Bristol Gate Capital Partners Inc. boosted its holdings in shares of Canadian National Railway by 32.1% in the 2nd quarter. Bristol Gate Capital Partners Inc. now owns 7,828 shares of the transportation company’s stock valued at $925,000 after buying an additional 1,904 shares in the last quarter. Inspire Investing LLC grew its position in shares of Canadian National Railway by 0.6% in the 2nd quarter. Inspire Investing LLC now owns 21,739 shares of the transportation company’s stock worth $2,569,000 after buying an additional 139 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Canadian National Railway by 548.0% during the 2nd quarter. XTX Topco Ltd now owns 10,854 shares of the transportation company’s stock worth $1,282,000 after acquiring an additional 9,179 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNI has been the subject of several recent analyst reports. Sanford C. Bernstein downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $146.25 to $130.67 in a research note on Monday, July 8th. Bank of America lowered their price objective on Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Stephens reduced their target price 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. Barclays lowered their price target on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Finally, Susquehanna dropped their price target on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Fifteen research 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 stock. According to MarketBeat.com, Canadian National Railway currently has a consensus rating of “Hold” and an average price target of $136.33.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $117.07 on Friday. The company has a 50 day simple moving average of $116.23 and a two-hundred day simple moving average of $122.15. The stock has a market cap of $74.04 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 2.56 and a beta of 0.88. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02.

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

Canadian National Railway Cuts Dividend

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

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.