Great Lakes Advisors LLC Invests $9.31 Million in Canadian National Railway Company $CNI

Great Lakes Advisors LLC acquired a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 78,063 shares of the transportation company’s stock, valued at approximately $9,308,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNI. Vanguard Group Inc. lifted its stake in 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 valued at $2,437,679,000 after purchasing an additional 346,670 shares during the last quarter. FIL Ltd grew its position 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 worth $1,557,309,000 after buying an additional 5,210,403 shares during the last quarter. Caisse de depot et placement du Quebec increased its holdings in shares of 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 valued at $1,310,600,000 after buying an additional 157,000 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of 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 valued at $934,488,000 after buying an additional 173,894 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of 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 valued at $889,462,000 after acquiring an additional 1,182,106 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $126.67 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. Canadian National Railway Company has a one year low of $90.74 and a one year high of $131.55. The business’s 50-day moving average price is $123.42 and its two-hundred day moving average price is $114.08. The company has a market capitalization of $76.65 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 2.37 and a beta of 0.95.

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

Canadian National Railway Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce raised their price objective on 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. National Bank Financial set a $124.00 target price on Canadian National Railway in a report on Thursday, June 25th. Barclays increased their price target on Canadian National Railway from $109.00 to $130.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. Citigroup lifted their price target on Canadian National Railway from $124.00 to $141.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada boosted their price objective on Canadian National Railway from $195.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Canadian National Railway has a consensus rating of “Moderate Buy” and a consensus target price of $137.40.

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.