AlphaCrest Capital Management LLC Has $1.98 Million Stock Holdings in Canadian National Railway (NYSE:CNI)

AlphaCrest Capital Management LLC lifted its holdings in shares of Canadian National Railway (NYSE:CNIGet Rating) (TSE:CNR) by 444.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,571 shares of the transportation company’s stock after purchasing an additional 14,345 shares during the period. AlphaCrest Capital Management LLC’s holdings in Canadian National Railway were worth $1,976,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CNI. BCK Partners Inc. bought a new stake in shares of Canadian National Railway during the 1st quarter valued at about $2,575,000. Steward Partners Investment Advisory LLC boosted its position in shares of Canadian National Railway by 11.1% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,449 shares of the transportation company’s stock valued at $329,000 after purchasing an additional 245 shares in the last quarter. National Asset Management Inc. boosted its position in shares of Canadian National Railway by 25.9% during the 1st quarter. National Asset Management Inc. now owns 3,963 shares of the transportation company’s stock valued at $532,000 after purchasing an additional 816 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Canadian National Railway by 12.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 560,299 shares of the transportation company’s stock valued at $75,159,000 after purchasing an additional 60,378 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Canadian National Railway by 3.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 46,546 shares of the transportation company’s stock valued at $6,243,000 after purchasing an additional 1,585 shares in the last quarter. Institutional investors own 79.45% of the company’s stock.

Canadian National Railway Stock Performance

Shares of CNI opened at $126.37 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.80 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $85.57 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 2.05 and a beta of 0.88. The stock has a 50 day moving average of $115.68 and a 200 day moving average of $116.42. Canadian National Railway has a 12 month low of $103.79 and a 12 month high of $137.19.

Canadian National Railway (NYSE:CNIGet Rating) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 25th. The transportation company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.12. The company had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.32 billion. Canadian National Railway had a return on equity of 22.23% and a net margin of 29.99%. Canadian National Railway’s revenue was up 25.7% on a year-over-year basis. During the same period last year, the business posted $1.21 earnings per share. As a group, sell-side analysts forecast that Canadian National Railway will post 5.57 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 8th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Wednesday, December 7th. Canadian National Railway’s payout ratio is 40.55%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CNI. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the company from $128.00 to $135.00 in a research report on Monday, September 12th. Stephens increased their price target on Canadian National Railway to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Desjardins increased their price target on Canadian National Railway from C$167.00 to C$169.00 in a report on Wednesday, July 27th. Scotiabank increased their price target on Canadian National Railway from C$156.00 to C$159.00 in a report on Wednesday, October 26th. Finally, Stifel Nicolaus cut their price target on Canadian National Railway from $119.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, October 17th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $141.55.

Canadian National Railway Profile

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Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.

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

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