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

Raymond James & Associates lifted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 271,552 shares of the transportation company’s stock after purchasing an additional 505 shares during the quarter. Raymond James & Associates’ holdings in Canadian National Railway were worth $31,812,000 at the end of the most recent reporting period.

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

Canadian National Railway Stock Performance

NYSE:CNI opened at $111.99 on Thursday. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The firm has a market capitalization of $70.82 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 2.53 and a beta of 0.88. The business’s fifty day moving average price is $116.02 and its 200 day moving average price is $119.72.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company earned $1.26 EPS. On average, sell-side analysts anticipate that Canadian National Railway will post 5.5 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.18%. Canadian National Railway’s dividend payout ratio is presently 39.07%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CNI shares. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. Evercore ISI dropped their price objective on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research note on Wednesday. Stifel Nicolaus lifted their target price on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Canadian National Railway currently has a consensus rating of “Hold” and an average price target of $125.10.

About Canadian National Railway

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.