Notis McConarty Edward Buys Shares of 27,487 Canadian National Railway Company $CNI

Notis McConarty Edward purchased a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,487 shares of the transportation company’s stock, valued at approximately $3,278,000. Canadian National Railway makes up about 1.4% of Notis McConarty Edward’s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds have also made changes to their positions in the company. High Point Wealth Management LLC acquired a new stake in shares of Canadian National Railway during the fourth quarter worth approximately $27,000. MidFirst Bank acquired a new position in Canadian National Railway in the 4th quarter valued at approximately $31,000. Curio Wealth LLC purchased a new stake in Canadian National Railway in the 4th quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd lifted its position in Canadian National Railway by 378.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after buying an additional 280 shares in the last quarter. Finally, MBM Wealth Consultants LLC acquired a new stake in shares of Canadian National Railway during the 1st quarter valued at $37,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $127.75 on Thursday. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $131.55. The company has a market cap of $77.31 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.36 and a beta of 0.95. The business’s 50 day moving average is $123.59 and its two-hundred day moving average is $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.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.Canadian National Railway’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.87 earnings per share. On average, equities analysts expect that Canadian National Railway Company will post 5.81 EPS for the current 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 paid a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio is presently 47.34%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CNI shares. Royal Bank Of Canada boosted their price target on shares of Canadian National Railway from $195.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, July 27th. National Bank Financial set a $124.00 price objective on Canadian National Railway in a report on Thursday, June 25th. Barclays lifted their price objective 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. Stephens upgraded Canadian National Railway to a “hold” rating in a research note on Wednesday, July 8th. Finally, Citizens Jmp started coverage on Canadian National Railway in a research report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.