300,000 Shares in Canadian National Railway (NYSE:CNI) Purchased by Scopus Asset Management L.P.

Scopus Asset Management L.P. bought a new position in Canadian National Railway (NYSE:CNI) (TSE:CNR) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 300,000 shares of the transportation company’s stock, valued at approximately $34,794,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. HighPoint Advisor Group LLC increased its stake in shares of Canadian National Railway by 2.2% in the first quarter. HighPoint Advisor Group LLC now owns 3,997 shares of the transportation company’s stock worth $470,000 after purchasing an additional 86 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Canadian National Railway by 1.4% in the first quarter. Bessemer Group Inc. now owns 6,798 shares of the transportation company’s stock worth $787,000 after purchasing an additional 94 shares in the last quarter. NuWave Investment Management LLC increased its stake in shares of Canadian National Railway by 33.8% in the first quarter. NuWave Investment Management LLC now owns 388 shares of the transportation company’s stock worth $45,000 after purchasing an additional 98 shares in the last quarter. NEXT Financial Group Inc increased its stake in shares of Canadian National Railway by 1.9% in the first quarter. NEXT Financial Group Inc now owns 5,592 shares of the transportation company’s stock worth $649,000 after purchasing an additional 103 shares in the last quarter. Finally, ICW Investment Advisors LLC increased its stake in shares of Canadian National Railway by 0.9% in the first quarter. ICW Investment Advisors LLC now owns 12,416 shares of the transportation company’s stock worth $1,440,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 54.67% of the company’s stock.

Shares of CNI traded up $0.89 during mid-day trading on Thursday, reaching $105.11. The company’s stock had a trading volume of 70,386 shares, compared to its average volume of 1,449,818. The firm has a market capitalization of $74.52 billion, a PE ratio of 23.63, a PEG ratio of 2.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 1.19. Canadian National Railway has a 52 week low of $95.48 and a 52 week high of $119.61. The stock’s fifty day moving average price is $107.31.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Monday, July 19th. The transportation company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.63 billion. Canadian National Railway had a net margin of 28.27% and a return on equity of 20.54%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.28 EPS. As a group, sell-side analysts expect that Canadian National Railway will post 4.75 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 30th. Investors of record on Wednesday, June 9th were issued a dividend of $0.4964 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.48. This represents a $1.99 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, June 8th. Canadian National Railway’s dividend payout ratio is currently 22.47%.

Several brokerages recently commented on CNI. UBS Group raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating in a research note on Friday, May 28th. Stifel Nicolaus began coverage on shares of Canadian National Railway in a research note on Monday, June 21st. They set a “hold” rating for the company. Desjardins reduced their price objective on shares of Canadian National Railway from C$147.00 to C$145.00 and set a “hold” rating for the company in a research note on Wednesday, May 26th. Scotiabank raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 27th. Finally, TheStreet cut shares of Canadian National Railway from a “b” rating to a “c+” rating in a research note on Wednesday, May 19th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $131.88.

Canadian National Railway Company Profile

Canadian National Railway Co engages in rail and related transportation business. The firm’s services include rail, intermodal, trucking, supply chain services, business development and maps and network. It offers their services in automotive, coal, fertilizer, food and beverages, forest products, dimensional loads, grain, metals and minerals and petroleum and chemicals industries.

See Also: Channel Trading

Want to see what other hedge funds are holding CNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian National Railway (NYSE:CNI) (TSE:CNR).

Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

Receive News & Ratings for Canadian National Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian National Railway and related companies with MarketBeat.com's FREE daily email newsletter.