Magnetar Financial LLC Boosts Stock Holdings in Canadian National Railway (NYSE:CNI)

Magnetar Financial LLC boosted its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 225.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,482 shares of the transportation company’s stock after purchasing an additional 27,356 shares during the period. Magnetar Financial LLC’s holdings in Canadian National Railway were worth $4,008,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CNI. National Bank of Canada FI raised its stake in Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after purchasing an additional 2,137,948 shares during the period. Canoe Financial LP purchased a new position in Canadian National Railway during the fourth quarter worth approximately $216,943,000. Point72 Asset Management L.P. purchased a new position in Canadian National Railway during the third quarter worth approximately $159,907,000. Wellington Management Group LLP raised its stake in Canadian National Railway by 4.4% during the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after purchasing an additional 790,420 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Canadian National Railway by 64.5% in the 3rd quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock valued at $174,813,000 after acquiring an additional 584,832 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of CNI stock opened at $97.70 on Friday. The firm has a market cap of $61.39 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. Canadian National Railway has a 1-year low of $93.64 and a 1-year high of $134.02. The firm has a fifty day moving average of $101.34 and a two-hundred day moving average of $107.43.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. As a group, research analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.6159 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 2.52%. Canadian National Railway’s payout ratio is 47.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Evercore ISI raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. TD Securities raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 13th. Loop Capital downgraded shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Stifel Nicolaus raised their target price 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, January 31st. Finally, JPMorgan Chase & Co. raised shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.19.

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.