Buckley Wealth Management LLC Purchases New Stake in Canadian National Railway (NYSE:CNI)

Buckley Wealth Management LLC purchased a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the 2nd quarter, Holdings Channel reports. The fund purchased 2,620 shares of the transportation company’s stock, valued at approximately $317,000.

Several other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP raised its position in Canadian National Railway by 0.9% during the first quarter. Wellington Management Group LLP now owns 20,375,062 shares of the transportation company’s stock valued at $2,400,975,000 after buying an additional 188,460 shares during the period. Vanguard Group Inc. raised its position in Canadian National Railway by 2.8% during the first quarter. Vanguard Group Inc. now owns 20,007,681 shares of the transportation company’s stock valued at $2,683,831,000 after buying an additional 554,280 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Canadian National Railway by 5.3% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 12,333,700 shares of the transportation company’s stock valued at $1,655,948,000 after buying an additional 625,000 shares during the period. Jarislowsky Fraser Ltd raised its position in Canadian National Railway by 0.7% during the first quarter. Jarislowsky Fraser Ltd now owns 9,556,511 shares of the transportation company’s stock valued at $1,126,080,000 after buying an additional 70,386 shares during the period. Finally, 1832 Asset Management L.P. raised its position in Canadian National Railway by 0.9% during the first quarter. 1832 Asset Management L.P. now owns 8,513,991 shares of the transportation company’s stock valued at $1,004,396,000 after buying an additional 75,087 shares during the period. 67.60% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

NYSE:CNI traded down $0.73 during mid-day trading on Monday, hitting $115.67. 122,577 shares of the company’s stock traded hands, compared to its average volume of 1,117,742. The firm has a 50 day moving average of $115.14 and a two-hundred day moving average of $116.96. Canadian National Railway has a 12 month low of $103.79 and a 12 month high of $129.89. The firm has a market capitalization of $75.60 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 3.12 and a beta of 0.91. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.78.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, July 25th. The transportation company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.06). Canadian National Railway had a net margin of 30.21% and a return on equity of 24.62%. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.13 billion. On average, equities analysts forecast that Canadian National Railway will post 5.57 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a $0.5996 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.58. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.73%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CNI shares. Stifel Nicolaus upped their target price on Canadian National Railway from $115.00 to $127.00 in a research report on Monday, July 17th. Susquehanna dropped their target price on Canadian National Railway from $122.00 to $120.00 in a research report on Wednesday, July 26th. Stephens dropped their target price on Canadian National Railway from $124.00 to $122.00 in a research report on Wednesday, July 26th. Citigroup dropped their target price on Canadian National Railway from $125.00 to $122.00 in a research report on Tuesday, July 11th. Finally, Royal Bank of Canada downgraded Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average price target of $145.71.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.