The Chairman of Canadian National Railway (NYSE: CNI) is Buying Shares

Today, the Chairman of Canadian National Railway (CNIResearch Report), Robert L Pace, bought shares of CNI for $7.63M.

Following this transaction Robert L Pace’s holding in the company was increased by 24% to a total of $29.87 million. Following Robert L Pace’s last CNI Buy transaction on February 03, 2021, the stock climbed by 10.7%.

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Based on Canadian National Railway’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.6 billion and quarterly net profit of $1.03 billion. In comparison, last year the company earned revenue of $3.21 billion and had a net profit of $545 million. The company has a one-year high of $128.41 and a one-year low of $98.69. Currently, Canadian National Railway has an average volume of 162.00K.

Based on 18 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $124.34, reflecting a -7.0% downside. Eight different firms, including Citigroup and Credit Suisse, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $1.1B worth of CNI shares and purchased $7.63M worth of CNI shares. The insider sentiment on Canadian National Railway has been negative according to 64 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Founded in 1919, Canadian National Railway Co. is a Canada-based company which is engaged in rail and related transportation business. Its services include rail, intermodal, trucking, supply chain services, business development, and maps and network. The company offers its services in industries including automotive; coal; fertilizer; food and beverages; forest products; dimensional loads; grain; metals and minerals; and petroleum and chemicals.