Seven Eight Capital LP Acquires New Position in Canadian National Railway (NYSE:CNI)

Seven Eight Capital LP acquired a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 15,853 shares of the transportation company’s stock, valued at approximately $1,873,000.

Other large investors also recently bought and sold shares of the company. GQG Partners LLC grew its position in Canadian National Railway by 0.8% in the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock valued at $1,505,000 after buying an additional 93 shares in the last quarter. Choreo LLC lifted its stake in shares of Canadian National Railway by 1.5% in the 1st quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock worth $846,000 after acquiring an additional 97 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Canadian National Railway by 2.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock worth $547,000 after acquiring an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Canadian National Railway by 1.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after acquiring an additional 102 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Canadian National Railway by 19.3% during the second quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock valued at $77,000 after acquiring an additional 105 shares during the period. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Down 1.7 %

NYSE CNI opened at $117.00 on Thursday. The firm’s 50 day moving average price is $116.30 and its two-hundred day moving average price is $122.31. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The stock has a market cap of $73.68 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 2.56 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $1.31 EPS. Equities analysts anticipate that Canadian National Railway will post 5.58 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a $0.614 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.10%. Canadian National Railway’s dividend payout ratio is 39.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CNI shares. Barclays cut their target price on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Sanford C. Bernstein lowered Canadian National Railway from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $146.25 to $130.67 in a report on Monday, July 8th. Wells Fargo & Company lowered their target price on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Stephens cut their price target on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Finally, Susquehanna lowered their price objective on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Sixteen investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $137.35.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.