Modera Wealth Management LLC Buys 12,079 Shares of Canadian National Railway Company $CNI

Modera Wealth Management LLC raised its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 328.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,760 shares of the transportation company’s stock after purchasing an additional 12,079 shares during the quarter. Modera Wealth Management LLC’s holdings in Canadian National Railway were worth $1,640,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Sienna Gestion increased its stake in Canadian National Railway by 11.0% during the second quarter. Sienna Gestion now owns 55,300 shares of the transportation company’s stock valued at $5,250,000 after acquiring an additional 5,500 shares during the period. RFG Bristol Wealth Advisors LLC bought a new stake in shares of Canadian National Railway in the 2nd quarter worth approximately $212,000. Crestwood Advisors Group LLC grew its holdings in shares of Canadian National Railway by 13.3% during the 2nd quarter. Crestwood Advisors Group LLC now owns 4,397 shares of the transportation company’s stock worth $457,000 after purchasing an additional 515 shares in the last quarter. Dillon & Associates Inc. increased its position in shares of Canadian National Railway by 0.9% during the second quarter. Dillon & Associates Inc. now owns 74,528 shares of the transportation company’s stock valued at $7,751,000 after purchasing an additional 630 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its stake in shares of Canadian National Railway by 13.4% in the second quarter. Creative Financial Designs Inc. ADV now owns 929 shares of the transportation company’s stock valued at $97,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CNI. Wells Fargo & Company lowered their price target on shares of Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, October 6th. Bank of America lowered 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 research note on Monday, September 29th. Zacks Research cut shares of Canadian National Railway from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Canadian National Railway in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Canadian National Railway currently has an average rating of “Hold” and an average target price of $114.00.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock opened at $95.00 on Friday. The stock has a market capitalization of $58.78 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 2.13 and a beta of 0.95. The firm’s 50-day moving average price is $94.92 and its two-hundred day moving average price is $98.61. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $113.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. Canadian National Railway’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 earnings per share. On average, equities analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date is Tuesday, December 9th. Canadian National Railway’s dividend payout ratio is 48.01%.

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.