Fortitude Family Office LLC Boosts Stock Position in Canadian National Railway (NYSE:CNI)

Fortitude Family Office LLC grew its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 133.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 608 shares of the transportation company’s stock after acquiring an additional 348 shares during the period. Fortitude Family Office LLC’s holdings in Canadian National Railway were worth $62,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CNI. Coastline Trust Co purchased a new stake in shares of Canadian National Railway during the third quarter worth $34,000. Reston Wealth Management LLC purchased a new stake in shares of Canadian National Railway during the third quarter worth $41,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Canadian National Railway in the third quarter worth $56,000. Grove Bank & Trust raised its position in shares of Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after buying an additional 97 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Canadian National Railway by 15.6% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the transportation company’s stock worth $113,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Down 2.5 %

Shares of NYSE:CNI opened at $99.86 on Friday. The stock’s 50-day moving average price is $106.41 and its 200-day moving average price is $112.50. Canadian National Railway has a 12-month low of $98.96 and a 12-month high of $134.02. The stock has a market capitalization of $62.83 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the firm earned $1.26 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Canadian National Railway will post 5.31 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were issued a dividend of $0.6108 per share. The ex-dividend date was Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.45%. Canadian National Railway’s dividend payout ratio is currently 38.14%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CNI. The Goldman Sachs Group lowered their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Sanford C. Bernstein lowered their price objective on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Stifel Nicolaus increased their price objective on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company reduced their target price on Canadian National Railway from $133.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.94.

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.