3,384 Shares in Canadian National Railway Company $CNI Acquired by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management LLC has acquired 3,384 shares in Canadian National Railway Company, valued at approximately $352,000, indicating a growing interest from institutional investors in the transportation sector.
• Canadian National Railway's recent quarterly earnings missed analysts' expectations, reporting $1.35 EPS against a consensus estimate of $1.37, alongside a year-over-year revenue decline of 1.3%.
• The company recently raised its quarterly dividend from $0.62 to $0.6507, resulting in an annualized dividend yield of 2.7%, which reflects a strong financial position despite recent earnings challenges.

Morningstar Investment Management LLC purchased a new position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,384 shares of the transportation company's stock, valued at approximately $352,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC raised its holdings in Canadian National Railway by 54.5% during the second quarter. Sequoia Financial Advisors LLC now owns 6,939 shares of the transportation company's stock worth $722,000 after purchasing an additional 2,448 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Canadian National Railway by 9.2% during the second quarter. Yousif Capital Management LLC now owns 6,226 shares of the transportation company's stock worth $648,000 after purchasing an additional 525 shares in the last quarter. Montrusco Bolton Investments Inc. raised its holdings in Canadian National Railway by 22.4% during the second quarter. Montrusco Bolton Investments Inc. now owns 265,997 shares of the transportation company's stock worth $27,660,000 after purchasing an additional 48,646 shares in the last quarter. CWM LLC raised its holdings in Canadian National Railway by 56.5% during the second quarter. CWM LLC now owns 13,353 shares of the transportation company's stock worth $1,389,000 after purchasing an additional 4,823 shares in the last quarter. Finally, Franklin Parlapiano Turner & Welch LLC raised its holdings in Canadian National Railway by 6.5% during the second quarter. Franklin Parlapiano Turner & Welch LLC now owns 72,784 shares of the transportation company's stock worth $7,572,000 after purchasing an additional 4,453 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Stock Performance

NYSE:CNI opened at $95.83 on Wednesday. The firm's fifty day moving average price is $94.63 and its 200 day moving average price is $98.91. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $116.79. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The firm has a market cap of $59.49 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $4.34 billion. During the same quarter last year, the business earned $1.84 earnings per share. The business's quarterly revenue was down 1.3% on a year-over-year basis. On average, sell-side analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 8th were given a $0.6507 dividend. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date was Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a yield of 2.7%. Canadian National Railway's payout ratio is 50.19%.

Analysts Set New Price Targets

A number of research firms have weighed in on CNI. Susquehanna cut their price objective on shares of Canadian National Railway from $120.00 to $115.00 and set a "positive" rating on the stock in a report on Thursday, September 25th. Wall Street Zen cut shares of Canadian National Railway from a "hold" rating to a "sell" rating in a report on Saturday, October 4th. Weiss Ratings restated a "hold (c-)" rating on shares of Canadian National Railway in a research report on Wednesday, October 8th. Wells Fargo & Company lowered their target price on shares of Canadian National Railway from $117.00 to $110.00 and set an "overweight" rating on the stock in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. restated a "neutral" rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $113.90.

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.

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