Canadian National Railway (NYSE:CNI) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ grew its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.9% in the second quarter, HoldingsChannel reports. The fund owned 81,659 shares of the transportation company’s stock after acquiring an additional 3,810 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Canadian National Railway were worth $9,646,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Canadian National Railway during the second quarter worth approximately $26,000. Addison Advisors LLC grew its stake in Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 148 shares during the period. GAMMA Investing LLC grew its stake in Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 207 shares during the period. ORG Partners LLC purchased a new stake in Canadian National Railway in the 2nd quarter worth $34,000. Finally, Daiwa Securities Group Inc. acquired a new position in Canadian National Railway during the first quarter worth $64,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNI has been the subject of a number of research reports. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Susquehanna reduced their target price on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company reduced their price objective on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Fifteen analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Canadian National Railway currently has an average rating of “Hold” and a consensus price target of $136.33.

Canadian National Railway Trading Down 1.6 %

Shares of CNI opened at $117.07 on Friday. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The firm has a market capitalization of $74.04 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.56 and a beta of 0.88. The firm has a 50-day moving average price of $116.23 and a 200 day moving average price of $122.15. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company earned $1.31 EPS. Sell-side analysts forecast 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. Shareholders of record on Friday, September 6th will be paid a dividend of $0.614 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.10%. Canadian National Railway’s dividend payout ratio (DPR) is 39.07%.

Canadian National Railway Company Profile

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.