Arrowstreet Capital Limited Partnership Has Boosted Canadian Natl Ry Co (CNI) Position by $270.66 Million

July 16, 2018 - By Carolyn Hewitt

Canadian National Railway Company (NYSE:CNI) Logo

Arrowstreet Capital Limited Partnership increased its stake in Canadian Natl Ry Co (CNI) by 61.58% based on its latest 2018Q1 regulatory filing with the SEC. Arrowstreet Capital Limited Partnership bought 3.71 million shares as the company’s stock rose 6.45% while stock markets declined. The institutional investor held 9.73M shares of the railroads company at the end of 2018Q1, valued at $711.12M, up from 6.02 million at the end of the previous reported quarter. Arrowstreet Capital Limited Partnership who had been investing in Canadian Natl Ry Co for a number of months, seems to be bullish on the $62.85 billion market cap company. The stock decreased 1.56% or $1.33 during the last trading session, reaching $84.47. About 448,934 shares traded. Canadian National Railway Company (NYSE:CNI) has risen 8.49% since July 16, 2017 and is uptrending. It has underperformed by 4.08% the S&P500.

Arrowstreet Capital Limited Partnership, which manages about $55.30 billion and $43.60 billion US Long portfolio, decreased its stake in Ares Cap Corp (NASDAQ:ARCC) by 2.01 million shares to 2.59 million shares, valued at $41.14M in 2018Q1, according to the filing. It also reduced its holding in Ferrari N V by 834,837 shares in the quarter, leaving it with 1.40M shares, and cut its stake in Manpowergroup Inc (NYSE:MAN).

More recent Canadian National Railway Company (NYSE:CNI) news were published by: Fool.ca which released: “5 Top Canadian Blue-Chip Stocks to Buy and Hold” on July 15, 2018. Also Seekingalpha.com published the news titled: “Getting Cautious About CN Rail” on July 10, 2018. Globenewswire.com‘s news article titled: “CN establishes its first Community Board in Edmonton” with publication date: June 26, 2018 was also an interesting one.

Canadian National Railway Company (NYSE:CNI) Ratings Coverage

Among 10 analysts covering Canadian National Railway (NYSE:CNI), 4 have Buy rating, 0 Sell and 6 Hold. Therefore 40% are positive. Canadian National Railway had 18 analyst reports since January 24, 2018 according to SRatingsIntel. The rating was downgraded by Bank of America to “Underperform” on Tuesday, March 6. Cowen & Co maintained the shares of CNI in report on Wednesday, February 28 with “Buy” rating. The stock has “Sell” rating by Deutsche Bank on Friday, February 16. The firm has “Outperform” rating given on Wednesday, January 24 by Macquarie Research. As per Tuesday, April 24, the company rating was maintained by Susquehanna. Bank of America upgraded Canadian National Railway Company (NYSE:CNI) on Thursday, May 17 to “Buy” rating. Goldman Sachs downgraded the shares of CNI in report on Monday, May 14 to “Hold” rating. Credit Suisse maintained it with “Neutral” rating and $83 target in Wednesday, January 24 report. Susquehanna maintained Canadian National Railway Company (NYSE:CNI) on Tuesday, January 23 with “Hold” rating. The stock of Canadian National Railway Company (NYSE:CNI) has “Hold” rating given on Friday, February 16 by Argus Research.

Canadian National Railway Company (NYSE:CNI) Ratings Chart

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