GAMMA Investing LLC Raises Position in Canadian National Railway (NYSE:CNI)

GAMMA Investing LLC raised its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 766.7% during the 1st quarter, HoldingsChannel reports. The fund owned 234 shares of the transportation company’s stock after acquiring an additional 207 shares during the quarter. GAMMA Investing LLC’s holdings in Canadian National Railway were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of CNI. Norges Bank purchased a new position in shares of Canadian National Railway during the 4th quarter worth $769,556,000. Canoe Financial LP lifted its stake in shares of Canadian National Railway by 8,401.1% during the 4th quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock valued at $503,423,000 after buying an additional 3,960,049 shares in the last quarter. Capital International Investors lifted its stake in shares of Canadian National Railway by 63.2% during the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock valued at $957,845,000 after buying an additional 2,951,506 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Canadian National Railway by 9.6% during the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after buying an additional 1,907,938 shares in the last quarter. Finally, FIL Ltd lifted its stake in shares of Canadian National Railway by 7.2% during the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after buying an additional 1,280,726 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

CNI stock opened at $118.25 on Thursday. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. The company has a 50-day moving average price of $124.43 and a 200 day moving average price of $126.28. The stock has a market cap of $75.03 billion, a PE ratio of 18.86, a P/E/G ratio of 2.07 and a beta of 0.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Equities research analysts anticipate that Canadian National Railway will post 5.9 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.11%. Canadian National Railway’s dividend payout ratio is presently 39.08%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CNI shares. Stephens restated an “equal weight” rating and set a $140.00 target price on shares of Canadian National Railway in a research note on Wednesday, April 24th. Jefferies Financial Group started coverage on shares of Canadian National Railway in a research note on Monday, April 8th. They set a “hold” rating and a $130.00 target price on the stock. StockNews.com cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Stifel Nicolaus lifted their price target on shares of Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a report on Friday, April 12th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, April 24th. Eighteen research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $148.95.

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.