Voloridge Investment Management LLC Purchases Shares of 57,408 Canadian National Railway (NYSE:CNI)

Voloridge Investment Management LLC purchased a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the 2nd quarter, Holdings Channel reports. The fund purchased 57,408 shares of the transportation company’s stock, valued at approximately $5,309,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CNI. Prime Capital Investment Advisors LLC purchased a new stake in shares of Canadian National Railway in the second quarter valued at about $34,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Canadian National Railway by 1,676.8% in the second quarter. Moneta Group Investment Advisors LLC now owns 5,366 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 5,064 shares in the last quarter. CWM LLC lifted its holdings in shares of Canadian National Railway by 96.0% in the second quarter. CWM LLC now owns 437 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 214 shares in the last quarter. Icon Wealth Partners LLC purchased a new position in shares of Canadian National Railway during the first quarter valued at approximately $41,000. Finally, Centersquare Investment Management LLC purchased a new position in shares of Canadian National Railway during the first quarter valued at approximately $49,000. 53.09% of the stock is currently owned by institutional investors.

CNI stock traded up $0.09 on Wednesday, hitting $89.65. 115,428 shares of the company were exchanged, compared to its average volume of 698,922. Canadian National Railway has a twelve month low of $70.36 and a twelve month high of $96.49. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.69 and a quick ratio of 0.54. The business’s fifty day moving average is $91.81 and its two-hundred day moving average is $91.71. The stock has a market capitalization of $64.51 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.26 by $0.47. Canadian National Railway had a net margin of 29.50% and a return on equity of 24.15%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the business posted $1.51 earnings per share. Canadian National Railway’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts expect that Canadian National Railway will post 4.69 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $0.411 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 6th. This represents a $1.64 annualized dividend and a yield of 1.83%. Canadian National Railway’s dividend payout ratio is 39.18%.

Several brokerages recently issued reports on CNI. Royal Bank of Canada set a $137.00 price objective on shares of Canadian National Railway and gave the company a “hold” rating in a research note on Friday, September 13th. Goldman Sachs Group began coverage on shares of Canadian National Railway in a research note on Wednesday, July 10th. They set a “neutral” rating and a $97.00 price objective on the stock. Raymond James downgraded shares of Canadian National Railway from an “outperform” rating to a “hold” rating in a research note on Friday, September 13th. Credit Suisse Group upped their price objective on shares of Canadian National Railway from $101.00 to $104.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, ValuEngine downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Canadian National Railway currently has an average rating of “Hold” and a consensus target price of $102.53.

Canadian National Railway Profile

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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

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