Strong Tower Advisory Services Raises Stock Position in Canadian National Railway Company $CNI

Strong Tower Advisory Services increased its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,396 shares of the transportation company’s stock after purchasing an additional 854 shares during the quarter. Strong Tower Advisory Services’ holdings in Canadian National Railway were worth $3,058,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Founders Capital Management LLC purchased a new stake in Canadian National Railway in the second quarter worth approximately $3,335,000. Goldman Sachs Group Inc. boosted its holdings in Canadian National Railway by 39.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock worth $259,694,000 after purchasing an additional 755,518 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Canadian National Railway by 31.3% in the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company’s stock worth $70,000 after purchasing an additional 171 shares during the last quarter. Cardinal Capital Management Inc. boosted its holdings in Canadian National Railway by 3.1% in the second quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company’s stock worth $76,178,000 after purchasing an additional 22,035 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Canadian National Railway by 3.7% in the first quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company’s stock worth $9,185,000 after purchasing an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNI. Bank of America dropped their target price on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Raymond James Financial upgraded shares of Canadian National Railway from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 17th. Citigroup dropped their price target on shares of Canadian National Railway from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, July 9th. National Bank Financial cut shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Canadian National Railway in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $114.30.

Canadian National Railway Stock Down 1.0%

CNI opened at $94.51 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. Canadian National Railway Company has a fifty-two week low of $91.07 and a fifty-two week high of $116.79. The firm’s fifty day moving average is $94.54 and its 200 day moving average is $98.95. The stock has a market cap of $58.67 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter last year, the firm posted $1.84 EPS. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 8th were paid a $0.6507 dividend. This represents a $2.60 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, September 8th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.62. Canadian National Railway’s dividend payout ratio is presently 50.19%.

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.