Somerville Kurt F Purchases Shares of 63,272 Canadian National Railway Company $CNI

Somerville Kurt F acquired a new stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 2nd quarter, Holdings Channel reports. The firm acquired 63,272 shares of the transportation company’s stock, valued at approximately $7,545,000. Canadian National Railway makes up 1.8% of Somerville Kurt F’s holdings, making the stock its 22nd biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Canadian National Railway by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 24,646,922 shares of the transportation company’s stock worth $2,437,679,000 after buying an additional 346,670 shares during the period. FIL Ltd raised its holdings in Canadian National Railway by 49.5% in the fourth quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock valued at $1,557,309,000 after acquiring an additional 5,210,403 shares in the last quarter. Caisse de depot et placement du Quebec lifted its stake in Canadian National Railway by 1.1% in the third quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company’s stock worth $1,310,600,000 after acquiring an additional 157,000 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Canadian National Railway by 2.0% in the first quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company’s stock worth $934,488,000 after acquiring an additional 173,894 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Canadian National Railway by 15.1% during the 4th quarter. Deutsche Bank AG now owns 8,998,101 shares of the transportation company’s stock worth $889,462,000 after acquiring an additional 1,182,106 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CNI shares. Stephens raised shares of Canadian National Railway to a “hold” rating in a research report on Wednesday, July 8th. Wells Fargo & Company lifted their price objective on shares of Canadian National Railway from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Canadian Imperial Bank of Commerce boosted their target price on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 25th. Bank of America boosted their target price on shares of Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Finally, Barclays raised their price target on Canadian National Railway from $109.00 to $130.00 and gave the company an “equal weight” rating in a research note on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.40.

Canadian National Railway Stock Performance

Shares of CNI opened at $127.75 on Thursday. The stock has a 50 day moving average price of $123.59 and a 200 day moving average price of $114.26. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $77.31 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.95. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $131.55.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the firm posted $1.87 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Research analysts predict that Canadian National Railway Company will post 5.81 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th will be given a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio (DPR) is 47.34%.

About Canadian National Railway

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.