Cobblestone Capital Advisors LLC NY Acquires 24,162 Shares of Canadian National Railway Company (NYSE:CNI)

Key Points

• Cobblestone Capital Advisors LLC NY increased its stake in Canadian National Railway by 14.9%, acquiring an additional 24,162 shares, bringing its total ownership to 185,809 shares valued at approximately $18.1 million.
• Canadian National Railway reported earnings per share (EPS) of $1.35, which was below the expected $1.37, along with a year-over-year revenue decline of 1.3%.
• The company announced an increase in its quarterly dividend to $0.6507 per share, representing an annual yield of 2.8%, with the next payout scheduled for September 29th.

Cobblestone Capital Advisors LLC NY increased its stake in shares of 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 filing with the SEC. The fund owned 185,809 shares of the transportation company's stock after acquiring an additional 24,162 shares during the period. Canadian National Railway accounts for about 1.0% of Cobblestone Capital Advisors LLC NY's holdings, making the stock its 28th largest position. Cobblestone Capital Advisors LLC NY's holdings in Canadian National Railway were worth $18,109,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Royal Bank of Canada lifted its position in shares of Canadian National Railway by 7.5% in the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock worth $2,817,616,000 after acquiring an additional 1,934,622 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Canadian National Railway by 33.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock worth $557,278,000 after buying an additional 1,380,554 shares in the last quarter. Capital International Investors raised its holdings in shares of Canadian National Railway by 12.8% in the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock worth $1,199,680,000 after buying an additional 1,341,133 shares in the last quarter. Nuveen LLC acquired a new position in shares of Canadian National Railway in the 1st quarter worth approximately $112,216,000. Finally, BLI Banque de Luxembourg Investments acquired a new position in shares of Canadian National Railway in the 4th quarter worth approximately $70,283,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Stock Up 0.1%

Shares of CNI traded up $0.13 during trading hours on Wednesday, hitting $93.92. The stock had a trading volume of 3,614,019 shares, compared to its average volume of 1,496,543. 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 50 day simple moving average of $100.85 and a 200-day simple moving average of $100.76. The firm has a market capitalization of $58.84 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. 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 released its quarterly 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). The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. Canadian National Railway's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 EPS. Sell-side analysts predict that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be issued a $0.6507 dividend. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. Canadian National Railway's payout ratio is presently 49.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CNI shares. Susquehanna dropped their price target on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Citigroup reduced their target price on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. Wells Fargo & Company reduced their target price on Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Stephens boosted their price target on Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, National Bank Financial downgraded Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, July 23rd. 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's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $118.36.

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.