NewEdge Advisors LLC Purchases 1,892 Shares of Canadian National Railway (NYSE:CNI)

NewEdge Advisors LLC increased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 34.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,464 shares of the transportation company’s stock after acquiring an additional 1,892 shares during the quarter. NewEdge Advisors LLC’s holdings in Canadian National Railway were worth $882,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Canadian National Railway during the 2nd quarter worth approximately $26,000. GAMMA Investing LLC boosted its stake in Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after acquiring an additional 207 shares during the last quarter. Addison Advisors LLC boosted its stake in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after acquiring an additional 148 shares during the last quarter. ORG Partners LLC bought a new position in Canadian National Railway during the 2nd quarter worth approximately $34,000. Finally, Daiwa Securities Group Inc. bought a new position in Canadian National Railway in the first quarter valued at approximately $64,000. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CNI. Barclays lifted their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Sanford C. Bernstein lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and cut their price target for the company from $146.25 to $130.67 in a research note on Monday, July 8th. National Bank Financial raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Finally, Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Sixteen equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $129.51.

Canadian National Railway Trading Down 0.4 %

Shares of Canadian National Railway stock opened at $113.08 on Tuesday. The firm has a 50-day moving average of $115.54 and a 200-day moving average of $121.18. The stock has a market cap of $71.51 billion, a PE ratio of 18.04, a PEG ratio of 2.46 and a beta of 0.88. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same period in the prior year, the company earned $1.31 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, sell-side analysts forecast 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 was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a dividend of $0.614 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.17%. Canadian National Railway’s dividend payout ratio is 39.07%.

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.