SEB Asset Management AB Acquires Shares of 82,963 Canadian National Railway Company $CNI

SEB Asset Management AB bought a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 82,963 shares of the transportation company’s stock, valued at approximately $8,512,000.

A number of other institutional investors have also made changes to their positions in CNI. Swiss National Bank grew its holdings in Canadian National Railway by 26.3% during the 1st quarter. Swiss National Bank now owns 1,761,000 shares of the transportation company’s stock valued at $180,986,000 after purchasing an additional 367,100 shares in the last quarter. World Equity Group Inc. acquired a new position in Canadian National Railway in the 1st quarter worth $227,000. Heartland Advisors Inc. lifted its holdings in Canadian National Railway by 62.3% in the 1st quarter. Heartland Advisors Inc. now owns 12,202 shares of the transportation company’s stock worth $1,254,000 after buying an additional 4,683 shares in the last quarter. Modera Wealth Management LLC boosted its position in Canadian National Railway by 11.8% in the 1st quarter. Modera Wealth Management LLC now owns 23,867 shares of the transportation company’s stock valued at $2,453,000 after buying an additional 2,517 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Canadian National Railway by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 504,017 shares of the transportation company’s stock valued at $51,798,000 after buying an additional 3,420 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CNI. Bank of America raised their target price on Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Sanford C. Bernstein increased their price target on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a report on Tuesday, March 31st. Citizens Jmp assumed coverage on Canadian National Railway in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Barclays lifted their price objective on Canadian National Railway from $99.00 to $109.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Finally, Evercore raised Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 target price on the stock in a research report on Thursday, June 25th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $132.12.

Canadian National Railway Price Performance

CNI opened at $127.32 on Wednesday. The company has a 50-day moving average of $119.12 and a 200-day moving average of $110.09. The company has a market capitalization of $77.16 billion, a P/E ratio of 23.15, a PEG ratio of 2.42 and a beta of 0.96. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $129.52. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, hitting the consensus estimate of $1.31. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $1.85 earnings per share. Equities analysts expect that Canadian National Railway Company will post 5.67 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a dividend of $0.915 per share. The ex-dividend date was Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 2.9%. Canadian National Railway’s dividend payout ratio is presently 48.55%.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.