Caprock Group LLC Makes New $522,000 Investment in Canadian National Railway (NYSE:CNI)

Caprock Group LLC acquired a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,418 shares of the transportation company’s stock, valued at approximately $522,000.

Several other institutional investors have also modified their holdings of CNI. Principal Securities Inc. purchased a new stake in Canadian National Railway during the 4th quarter worth about $256,000. Dimensional Fund Advisors LP lifted its stake in Canadian National Railway by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,003,236 shares of the transportation company’s stock worth $126,035,000 after purchasing an additional 42,545 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Canadian National Railway by 2.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,371 shares of the transportation company’s stock valued at $1,554,000 after purchasing an additional 271 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Canadian National Railway by 10.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,222 shares of the transportation company’s stock valued at $1,661,000 after purchasing an additional 1,224 shares during the last quarter. Finally, Vise Technologies Inc. raised its holdings in Canadian National Railway by 27.9% during the fourth quarter. Vise Technologies Inc. now owns 3,201 shares of the transportation company’s stock worth $402,000 after purchasing an additional 698 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNI has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Sanford C. Bernstein cut Canadian National Railway from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $146.25 to $130.67 in a research report on Monday, July 8th. Stephens decreased their target price on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Finally, Bank of America reduced their price objective on Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday. Sixteen equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $137.35.

Canadian National Railway Trading Up 0.7 %

NYSE CNI opened at $116.55 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $73.71 billion, a P/E ratio of 18.59, a P/E/G ratio of 2.34 and a beta of 0.88. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The firm has a 50-day moving average price of $116.17 and a 200 day moving average price of $122.72.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the company posted $1.31 earnings per share. Equities research analysts expect that Canadian National Railway will post 5.64 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given a $0.614 dividend. This represents a $2.46 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s payout ratio is 39.07%.

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.