Canadian National Railway (NYSE:CNI) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC boosted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,412 shares of the transportation company’s stock after purchasing an additional 149 shares during the quarter. Private Advisor Group LLC’s holdings in Canadian National Railway were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNI. GQG Partners LLC raised its position in shares of Canadian National Railway by 0.8% in the first quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock valued at $1,505,000 after buying an additional 93 shares during the last quarter. Choreo LLC raised its holdings in Canadian National Railway by 1.5% in the 1st quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock valued at $846,000 after acquiring an additional 97 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Canadian National Railway by 2.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock worth $547,000 after purchasing an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Canadian National Railway by 1.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock worth $1,105,000 after purchasing an additional 102 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of Canadian National Railway by 19.3% in the second quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock valued at $77,000 after purchasing an additional 105 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CNI shares. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Stephens reduced their target price on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 24th. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. StockNews.com cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Sixteen investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.35.

Canadian National Railway Trading Down 0.5 %

NYSE CNI opened at $118.77 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The company has a 50-day simple moving average of $116.19 and a 200-day simple moving average of $122.55. The firm has a market capitalization of $74.79 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.31 earnings per share. On average, equities analysts forecast that Canadian National Railway will post 5.58 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a dividend of $0.614 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a yield of 2.07%. Canadian National Railway’s payout ratio is currently 39.08%.

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.