Hexagon Capital Partners LLC Boosts Holdings in Canadian National Railway (NYSE:CNI)

Hexagon Capital Partners LLC lifted its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 27.0% during the 1st quarter, HoldingsChannel reports. The fund owned 1,771 shares of the transportation company’s stock after acquiring an additional 376 shares during the period. Hexagon Capital Partners LLC’s holdings in Canadian National Railway were worth $233,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its position in Canadian National Railway by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock worth $2,813,534,000 after purchasing an additional 387,975 shares during the last quarter. Wellington Management Group LLP grew 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 during the period. FIL Ltd increased its holdings 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 worth $2,412,032,000 after buying an additional 1,280,726 shares during the last quarter. TD Asset Management Inc raised its position in shares of Canadian National Railway by 2.8% in the 4th quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock worth $1,471,733,000 after buying an additional 314,600 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in Canadian National Railway by 0.7% in the fourth quarter. 1832 Asset Management L.P. now owns 8,785,479 shares of the transportation company’s stock valued at $1,103,720,000 after acquiring an additional 61,752 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 1.2 %

CNI opened at $116.69 on Tuesday. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. The stock has a market capitalization of $74.04 billion, a PE ratio of 18.61, a P/E/G ratio of 2.07 and a beta of 0.89. The firm’s fifty day moving average price is $123.88 and its 200 day moving average price is $126.25.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.16 billion. As a group, research analysts expect that Canadian National Railway will post 5.9 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Friday, June 7th. Canadian National Railway’s payout ratio is currently 39.08%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Stephens restated an “equal weight” rating and set a $140.00 price target on shares of Canadian National Railway in a research note on Wednesday, April 24th. National Bank Financial raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Jefferies Financial Group started coverage on shares of Canadian National Railway in a report on Monday, April 8th. They issued a “hold” rating and a $130.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of Canadian National Railway in a research note on Friday, June 7th. They set an “equal weight” rating and a $130.00 price objective for the company. Finally, Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. Eighteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.