Envestnet Asset Management Inc. Buys 85,298 Shares of Canadian National Railway (NYSE:CNI)

Envestnet Asset Management Inc. raised its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 10.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 942,229 shares of the transportation company’s stock after buying an additional 85,298 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of Canadian National Railway worth $111,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in Canadian National Railway by 61.1% in the fourth quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock worth $20,375,000 after purchasing an additional 61,498 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in shares of Canadian National Railway by 1.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock valued at $201,351,000 after buying an additional 17,083 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Canadian National Railway in the second quarter valued at about $134,096,000. Koshinski Asset Management Inc. purchased a new stake in Canadian National Railway in the first quarter worth about $627,000. Finally, Virtu Financial LLC bought a new position in Canadian National Railway during the 4th quarter worth about $816,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Up 1.6 %

NYSE:CNI opened at $120.63 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a market cap of $76.29 billion, a PE ratio of 19.24, a P/E/G ratio of 2.54 and a beta of 0.88. The company’s 50 day moving average is $116.27 and its two-hundred day moving average is $122.43.

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

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a $0.614 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s payout ratio is 39.07%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CNI. Stephens reduced their price target on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Susquehanna lowered their target price on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Sanford C. Bernstein cut Canadian National Railway from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $146.25 to $130.67 in a research report on Monday, July 8th. Bank of America reduced their price target on Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, StockNews.com downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Sixteen analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $137.35.

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.