Avior Wealth Management LLC Increases Stock Position in Canadian National Railway (NYSE:CNI)

Avior Wealth Management LLC raised its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 103.4% in the third quarter, Holdings Channel reports. The institutional investor owned 2,427 shares of the transportation company’s stock after purchasing an additional 1,234 shares during the period. Avior Wealth Management LLC’s holdings in Canadian National Railway were worth $284,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CNI. Grove Bank & Trust increased its stake in shares of Canadian National Railway by 15.3% in the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after purchasing an additional 97 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Canadian National Railway by 2.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after buying an additional 100 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Canadian National Railway by 1.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock worth $1,105,000 after buying an additional 102 shares during the period. Blue Trust Inc. grew its stake in Canadian National Railway by 19.3% in the 2nd quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock valued at $77,000 after acquiring an additional 105 shares during the period. Finally, Doheny Asset Management CA increased its holdings in Canadian National Railway by 3.8% in the 2nd quarter. Doheny Asset Management CA now owns 3,000 shares of the transportation company’s stock worth $354,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CNI. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price for the company in a report on Monday, October 7th. Stifel Nicolaus lifted their price target on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Susquehanna dropped their price target on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI lowered their target price on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $125.48.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $111.24 on Friday. The firm has a 50 day simple moving average of $113.14 and a 200-day simple moving average of $117.23. The stock has a market cap of $70.06 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 2.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. Canadian National Railway has a 1-year low of $105.28 and a 1-year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts expect that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. Canadian National Railway’s payout ratio is currently 39.26%.

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.