Magnetar Financial LLC Makes New $3.54 Million Investment in Canadian National Railway (NYSE:CNI)

Magnetar Financial LLC purchased a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,944 shares of the transportation company’s stock, valued at approximately $3,537,000.

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

Canadian National Railway Stock Performance

Shares of CNI stock opened at $117.11 on Tuesday. 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 52 week low of $103.96 and a 52 week high of $134.02. The company’s 50 day moving average price is $116.14 and its two-hundred day moving average price is $122.03. The company has a market capitalization of $74.06 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 2.56 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data 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 company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. Canadian National Railway’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 EPS. On average, analysts expect that Canadian National Railway will post 5.58 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.614 per share. 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 (DPR) is currently 39.07%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stephens cut their price objective on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company cut their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Barclays cut their price objective on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, Benchmark restated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. Fifteen 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $136.33.

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.