Davis Rea LTD. Buys Shares of 35,812 Canadian National Railway Company (NYSE:CNI)

Davis Rea LTD. purchased a new position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 35,812 shares of the transportation company's stock, valued at approximately $3,487,000.

A number of other institutional investors have also recently bought and sold shares of CNI. Bruce G. Allen Investments LLC lifted its holdings in shares of Canadian National Railway by 44.2% during the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after acquiring an additional 106 shares during the period. CX Institutional bought a new position in shares of Canadian National Railway in the first quarter valued at about $39,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Canadian National Railway in the fourth quarter valued at about $52,000. Dunhill Financial LLC raised its holdings in shares of Canadian National Railway by 1,020.0% in the fourth quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock valued at $57,000 after buying an additional 510 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Canadian National Railway by 31.3% in the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock valued at $70,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CNI shares. Evercore ISI cut Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target for the company. in a report on Wednesday. Susquehanna dropped their price objective on Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a report on Wednesday. Bank of America boosted their price objective on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Stifel Nicolaus dropped their price objective on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Stephens boosted their price objective on Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of "Hold" and a consensus price target of $118.36.

Canadian National Railway Stock Up 0.5%

Shares of Canadian National Railway stock traded up $0.45 on Friday, reaching $95.87. 2,287,331 shares of the company were exchanged, compared to its average volume of 1,606,836. Canadian National Railway Company has a one year low of $91.65 and a one year high of $121.12. The company has a market capitalization of $60.06 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 2.12 and a beta of 0.97. The company has a current ratio of 0.82, a quick ratio of 0.43 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average of $103.72 and a 200 day moving average of $101.49.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results 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 business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter last year, the company posted $1.84 EPS. The firm's revenue was down 1.3% on a year-over-year basis. On average, equities research analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current 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 is Monday, September 8th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 2.71%. Canadian National Railway's dividend payout ratio (DPR) is 50.49%.

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.