Haven Global Partners LLC Takes $14.56 Million Position in Canadian National Railway (NYSE:CNI)

Haven Global Partners LLC bought a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the fourth quarter, HoldingsChannel.com reports. The fund bought 143,473 shares of the transportation company’s stock, valued at approximately $14,562,000. Canadian National Railway accounts for 13.7% of Haven Global Partners LLC’s holdings, making the stock its 4th biggest holding.

Several other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC bought a new position in shares of Canadian National Railway in the second quarter valued at about $1,725,000. Northwestern Mutual Wealth Management Co. raised its holdings in Canadian National Railway by 11.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,687 shares of the transportation company’s stock valued at $1,617,000 after acquiring an additional 1,445 shares during the period. NewEdge Advisors LLC lifted its position in Canadian National Railway by 34.0% during the second quarter. NewEdge Advisors LLC now owns 7,464 shares of the transportation company’s stock worth $882,000 after acquiring an additional 1,892 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Canadian National Railway by 10.0% during the second quarter. B. Riley Wealth Advisors Inc. now owns 4,573 shares of the transportation company’s stock worth $540,000 after acquiring an additional 417 shares during the period. Finally, Truist Financial Corp grew its position in shares of Canadian National Railway by 6.4% in the second quarter. Truist Financial Corp now owns 25,546 shares of the transportation company’s stock valued at $3,018,000 after purchasing an additional 1,534 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CNI shares. The Goldman Sachs Group reduced their price target on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Stifel Nicolaus upped their price target on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Friday. Sanford C. Bernstein cut their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Finally, Stephens reissued an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.19.

Canadian National Railway Stock Down 0.6 %

CNI stock opened at $104.58 on Friday. The firm has a 50-day moving average price of $104.48 and a 200-day moving average price of $110.96. Canadian National Railway has a 12 month low of $98.96 and a 12 month high of $134.02. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $65.77 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. As a group, equities research analysts anticipate that Canadian National Railway will post 5.12 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.6159 per share. The ex-dividend date is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a yield of 2.36%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s payout ratio is currently 38.30%.

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.