Avantax Advisory Services Inc. Has $2.74 Million Position in Canadian National Railway Company (NYSE:CNI)

Key Points

• Avantax Advisory Services Inc. increased its holdings in Canadian National Railway by 14.9%, owning 28,122 shares valued at approximately $2.74 million at the end of the recent quarter.
• Canadian National Railway's stock has a consensus rating of "Hold" with a target price of $118.36, while analysts have recently provided mixed ratings, with some increasing price targets and others downgrading their assessments.
• The company announced a quarterly dividend of $0.6507, representing a yield of 2.76%, which is an increase from its previous dividend of $0.62 per share.

Avantax Advisory Services Inc. raised its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 14.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,122 shares of the transportation company's stock after acquiring an additional 3,644 shares during the period. Avantax Advisory Services Inc.'s holdings in Canadian National Railway were worth $2,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNI. Shell Asset Management Co. grew its stake in Canadian National Railway by 0.5% in the 4th quarter. Shell Asset Management Co. now owns 21,387 shares of the transportation company's stock valued at $2,171,000 after purchasing an additional 100 shares during the period. Bruce G. Allen Investments LLC grew its stake in Canadian National Railway by 44.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after purchasing an additional 106 shares during the period. Voya Investment Management LLC grew its stake in Canadian National Railway by 1.4% in the 4th quarter. Voya Investment Management LLC now owns 7,953 shares of the transportation company's stock valued at $807,000 after purchasing an additional 112 shares during the period. Gradient Investments LLC grew its stake in Canadian National Railway by 2.1% in the 1st quarter. Gradient Investments LLC now owns 5,409 shares of the transportation company's stock valued at $527,000 after purchasing an additional 112 shares during the period. Finally, Diversified Trust Co grew its stake in Canadian National Railway by 5.7% in the 1st quarter. Diversified Trust Co now owns 2,561 shares of the transportation company's stock valued at $250,000 after purchasing an additional 139 shares during the period. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Performance

NYSE CNI traded down $0.63 on Friday, hitting $92.82. 2,049,316 shares of the company's stock were exchanged, compared to its average volume of 1,490,429. 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's 50-day moving average price is $102.74 and its two-hundred day moving average price is $101.30. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $121.12. The firm has a market cap of $58.15 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.10 and a beta of 0.97.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) 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 company had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. During the same period in the previous year, the company posted $1.84 EPS. Canadian National Railway's quarterly revenue was down 1.3% compared to the same quarter last year. On average, research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.6507 per share. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, September 8th. Canadian National Railway's payout ratio is presently 50.19%.

Analyst Ratings Changes

CNI has been the subject of several research reports. Bank of America increased their price target on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wells Fargo & Company cut their target price on Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Royal Bank Of Canada cut their target price on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Argus upgraded Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Finally, Barclays cut their target price on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $118.36.

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.