Canadian National Railway Company (NYSE:CNI) Stock Position Lifted by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its holdings in Canadian National Railway by 12.8%, owning 50,750 shares worth approximately $4.95 million after acquiring an additional 5,754 shares.
• Canadian National Railway's quarterly earnings missed estimates, reporting EPS of $1.35, versus the forecast of $1.37, and a revenue of $3.14 billion, falling short of $4.34 billion expectations.
• The company announced a dividend increase with a payment of $0.6507 per share starting September 29, raising its annualized dividend to $2.60, representing a yield of 2.8%.

Cetera Investment Advisers lifted its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 12.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,750 shares of the transportation company's stock after purchasing an additional 5,754 shares during the quarter. Cetera Investment Advisers' holdings in Canadian National Railway were worth $4,946,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of CNI. Geode Capital Management LLC grew its stake in shares of Canadian National Railway by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 3,306,192 shares of the transportation company's stock worth $340,987,000 after purchasing an additional 743,712 shares in the last quarter. Trexquant Investment LP boosted its stake in Canadian National Railway by 177.8% during the fourth quarter. Trexquant Investment LP now owns 64,689 shares of the transportation company's stock valued at $6,567,000 after buying an additional 41,407 shares in the last quarter. ExodusPoint Capital Management LP boosted its stake in Canadian National Railway by 966.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 86,700 shares of the transportation company's stock valued at $8,801,000 after buying an additional 78,567 shares in the last quarter. Pitcairn Co. boosted its stake in Canadian National Railway by 3.5% during the fourth quarter. Pitcairn Co. now owns 4,751 shares of the transportation company's stock valued at $482,000 after buying an additional 159 shares in the last quarter. Finally, Smith Moore & CO. boosted its stake in Canadian National Railway by 14.0% during the fourth quarter. Smith Moore & CO. now owns 3,266 shares of the transportation company's stock valued at $332,000 after buying an additional 400 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Down 0.7%

Shares of Canadian National Railway stock opened at $92.82 on Friday. The stock has a 50-day moving average price of $102.49 and a 200 day moving average price of $101.25. The company has a market cap of $58.15 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.07 and a beta of 0.94. 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 $91.65 and a 1 year high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). The business had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%. The firm's revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. As a group, analysts expect that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be paid a $0.6507 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $2.60 annualized dividend and a yield of 2.8%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's dividend payout ratio (DPR) is currently 49.81%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Barclays decreased 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. Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Wells Fargo & Company decreased 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. Finally, Argus raised Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.

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