SEB Asset Management AB Makes New $8.51 Million Investment in Canadian National Railway Company $CNI

SEB Asset Management AB bought a new stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 82,963 shares of the transportation company’s stock, valued at approximately $8,512,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CNI. Swiss National Bank lifted its position in shares of Canadian National Railway by 26.3% in the 1st quarter. Swiss National Bank now owns 1,761,000 shares of the transportation company’s stock worth $180,986,000 after buying an additional 367,100 shares during the last quarter. World Equity Group Inc. bought a new stake in shares of Canadian National Railway during the 1st quarter valued at about $227,000. Heartland Advisors Inc. grew its position in shares of Canadian National Railway by 62.3% during the 1st quarter. Heartland Advisors Inc. now owns 12,202 shares of the transportation company’s stock valued at $1,254,000 after buying an additional 4,683 shares during the last quarter. Modera Wealth Management LLC raised its stake in Canadian National Railway by 11.8% during the first quarter. Modera Wealth Management LLC now owns 23,867 shares of the transportation company’s stock worth $2,453,000 after acquiring an additional 2,517 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Canadian National Railway by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 504,017 shares of the transportation company’s stock worth $51,798,000 after acquiring an additional 3,420 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $127.32 on Wednesday. The stock has a market cap of $77.16 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 2.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $129.52. The stock’s 50 day moving average price is $119.12 and its 200 day moving average price is $110.09.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company posted $1.85 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts anticipate that Canadian National Railway Company will post 5.67 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were paid a dividend of $0.915 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 2.9%. Canadian National Railway’s dividend payout ratio (DPR) is currently 48.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company lifted their target price on Canadian National Railway from $110.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Bank of America raised their price target on Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Sanford C. Bernstein boosted their price objective on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada upped their price objective on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Citigroup upped their price objective 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. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $132.12.

Canadian National Railway 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.