Avantax Advisory Services Inc. Raises Stock Holdings in Canadian National Railway (NYSE:CNI)

Avantax Advisory Services Inc. grew its holdings in shares of Canadian National Railway (NYSE:CNIFree Report) (TSE:CNR) by 33.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,998 shares of the transportation company’s stock after purchasing an additional 3,011 shares during the period. Avantax Advisory Services Inc.’s holdings in Canadian National Railway were worth $1,300,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CNI. Knights of Columbus Asset Advisors LLC increased its stake in shares of Canadian National Railway by 4.0% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 2,156 shares of the transportation company’s stock worth $261,000 after buying an additional 83 shares during the period. Ascent Group LLC grew its stake in shares of Canadian National Railway by 2.2% during the third quarter. Ascent Group LLC now owns 4,005 shares of the transportation company’s stock worth $474,000 after purchasing an additional 87 shares in the last quarter. BlackDiamond Wealth Management Inc. increased its holdings in Canadian National Railway by 2.2% in the second quarter. BlackDiamond Wealth Management Inc. now owns 4,086 shares of the transportation company’s stock valued at $485,000 after buying an additional 88 shares during the last quarter. Baird Financial Group Inc. raised its stake in Canadian National Railway by 0.3% in the third quarter. Baird Financial Group Inc. now owns 28,401 shares of the transportation company’s stock valued at $3,067,000 after buying an additional 88 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in Canadian National Railway by 2.9% during the 2nd quarter. SRS Capital Advisors Inc. now owns 3,123 shares of the transportation company’s stock worth $378,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 67.60% of the company’s stock.

Canadian National Railway Stock Up 0.7 %

CNI opened at $129.16 on Thursday. The company has a market cap of $83.16 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 2.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.47 and a current ratio of 0.61. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $129.66. The firm has a 50 day moving average price of $123.48 and a 200 day moving average price of $115.93.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th will be given a $0.638 dividend. This represents a $2.55 dividend on an annualized basis and a dividend yield of 1.98%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, March 6th. Canadian National Railway’s dividend payout ratio is presently 36.59%.

Analyst Upgrades and Downgrades

CNI has been the subject of several recent analyst reports. TD Securities cut Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Barclays boosted their price objective on shares of Canadian National Railway from $109.00 to $113.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 25th. Susquehanna lifted their price target on shares of Canadian National Railway from $112.00 to $115.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. JPMorgan Chase & Co. dropped their price objective on Canadian National Railway from C$167.00 to C$159.00 and set a “neutral” rating for the company in a research note on Wednesday, October 11th. Finally, Deutsche Bank Aktiengesellschaft downgraded Canadian National Railway from a “buy” rating to a “hold” rating and decreased their target price for the stock from $125.00 to $121.00 in a research report on Monday, November 27th. Seventeen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $144.20.

Read Our Latest Report on Canadian National Railway

About Canadian National Railway

(Free Report)

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.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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