Net Worth Advisory Group Buys New Position in Canadian National Railway (NYSE:CNI)

Net Worth Advisory Group purchased a new position in Canadian National Railway (NYSE:CNI) (TSE:CNR) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,151 shares of the transportation company’s stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GQG Partners LLC lifted its holdings in shares of Canadian National Railway by 0.8% during the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock worth $1,505,000 after acquiring an additional 93 shares during the last quarter. Choreo LLC lifted its stake in Canadian National Railway by 1.5% during the first quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock worth $846,000 after purchasing an additional 97 shares during the last quarter. Grove Bank & Trust boosted its holdings 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 worth $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% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after purchasing an additional 100 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings 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 valued at $1,105,000 after buying an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

CNI has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Evercore ISI lowered their price target on shares of Canadian National Railway from $128.00 to $119.00 and set an “in-line” rating for the company in a research note on Wednesday, September 25th. National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective on the stock in a report on Monday, October 7th. Finally, Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $126.02.

Canadian National Railway Price Performance

Shares of CNI opened at $113.62 on Monday. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The firm’s 50-day simple moving average is $115.94 and its two-hundred day simple moving average is $120.02. The stock has a market cap of $71.56 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.53 and a beta of 0.88. 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 (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). The company had revenue of $4.33 billion during 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 quarter in the previous year, the company earned $1.31 EPS. Analysts anticipate that Canadian National Railway will post 5.5 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a $0.614 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, September 6th. Canadian National Railway’s dividend payout ratio is presently 39.26%.

Canadian National Railway Profile

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.