Purpose Unlimited Inc. Makes New $12.43 Million Investment in Canadian National Railway Company $CNI

Purpose Unlimited Inc. purchased a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 125,667 shares of the transportation company’s stock, valued at approximately $12,429,000.

A number of other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC grew its stake in shares of Canadian National Railway by 639,137.0% in the third quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock worth $844,353,000 after acquiring an additional 8,954,310 shares in the last quarter. Norges Bank acquired a new stake in shares of Canadian National Railway in the fourth quarter valued at $570,161,000. FIL Ltd raised its stake in shares of Canadian National Railway by 49.5% in the fourth quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock valued at $1,557,309,000 after acquiring an additional 5,210,403 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in Canadian National Railway by 1,693.5% in the third quarter. Quadrature Capital Ltd now owns 1,739,700 shares of the transportation company’s stock valued at $164,043,000 after purchasing an additional 1,642,700 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Canadian National Railway by 6,329.2% in the fourth quarter. AQR Capital Management LLC now owns 1,234,030 shares of the transportation company’s stock valued at $122,050,000 after purchasing an additional 1,214,836 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on CNI. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $117.00 to $122.00 in a research note on Thursday, April 9th. Canadian Imperial Bank of Commerce lifted their price objective on Canadian National Railway from C$164.00 to C$182.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 9th. Citigroup boosted their price objective on Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Barclays upped their target price on shares of Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Finally, Sanford C. Bernstein raised their target price on shares of Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a report on Tuesday, March 31st. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $122.04.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $113.42 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. The firm has a fifty day moving average price of $114.30 and a 200 day moving average price of $106.30. The company has a market cap of $68.81 billion, a P/E ratio of 20.62, a PEG ratio of 2.17 and a beta of 0.96. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $122.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the company posted $1.85 earnings per share. Canadian National Railway’s revenue for the quarter was down .5% compared to the same quarter last year. Sell-side analysts predict that Canadian National Railway Company will post 5.76 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.915 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.2%. Canadian National Railway’s dividend payout ratio is presently 48.55%.

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.