Canadian National Railway (NYSE:CNI) Shares Acquired by Raymond James & Associates

Raymond James & Associates lifted its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 9.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 271,047 shares of the transportation company’s stock after purchasing an additional 22,638 shares during the period. Raymond James & Associates’ holdings in Canadian National Railway were worth $32,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bfsg LLC grew its holdings in shares of Canadian National Railway by 110.5% during the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after buying an additional 105 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Canadian National Railway in the 2nd quarter valued at approximately $26,000. GAMMA Investing LLC boosted its holdings in Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 207 shares in the last quarter. ORG Partners LLC purchased a new stake in Canadian National Railway in the 2nd quarter valued at approximately $34,000. Finally, Rational Advisors LLC purchased a new stake in Canadian National Railway in the 1st quarter valued at approximately $49,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.1 %

Shares of Canadian National Railway stock opened at $113.82 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The company has a market capitalization of $71.65 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.30 and a beta of 0.89. The business has a 50 day moving average price of $116.80 and a 200 day moving average price of $124.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data 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). The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.31 earnings per share. Sell-side analysts anticipate that Canadian National Railway will post 5.62 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be issued a $0.614 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.16%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.23%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CNI shares. National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Susquehanna lowered their price objective on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Barclays lowered their price objective on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Wells Fargo & Company reduced their price target on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Finally, Scotiabank upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Sixteen investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Canadian National Railway currently has an average rating of “Hold” and an average target price of $138.35.

Canadian National Railway Company 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.