Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys Shares of 3,178 Canadian National Railway Company $CNI

Key Points

• Empirical Wealth Management has acquired a new stake of 3,178 shares in Canadian National Railway, valued at approximately $331,000.
• Despite recent analyst downgrades, including a price target reduction from Bank of America to $102.00, Canadian National Railway maintains a consensus rating of "Hold."
• The company has increased its quarterly dividend to $0.6507 per share, reflecting a dividend yield of 2.7% and a payout ratio of 50.19%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,178 shares of the transportation company's stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds have also modified their holdings of CNI. Dagco Inc. bought a new stake in shares of Canadian National Railway during the 1st quarter valued at $32,000. Bruce G. Allen Investments LLC boosted its position in shares of 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 worth $34,000 after purchasing an additional 106 shares during the last quarter. CX Institutional acquired a new stake in shares of Canadian National Railway during the first quarter worth $39,000. Brooklyn Investment Group increased its holdings in Canadian National Railway by 354.3% in the first quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock valued at $42,000 after purchasing an additional 333 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Canadian National Railway by 42.7% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company's stock valued at $58,000 after buying an additional 167 shares during the period. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CNI has been the subject of several analyst reports. Evercore ISI lowered Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 target price for the company. in a research report on Wednesday, July 23rd. Bank of America decreased their price objective on shares of Canadian National Railway from $106.00 to $102.00 and set a "neutral" rating for the company in a report on Monday, September 29th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Canadian National Railway in a research note on Saturday, September 27th. Susquehanna reduced their price target on shares of Canadian National Railway from $120.00 to $115.00 and set a "positive" rating on the stock in a research report on Thursday, September 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Canadian National Railway from $117.00 to $110.00 and set an "overweight" rating for the company in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Canadian National Railway has a consensus rating of "Hold" and an average price target of $116.11.

Canadian National Railway Stock Up 0.4%

Shares of CNI stock opened at $96.72 on Tuesday. Canadian National Railway Company has a 12-month low of $91.07 and a 12-month high of $116.79. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The firm has a fifty day moving average of $94.39 and a 200-day moving average of $99.03. The company has a market capitalization of $60.04 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.15 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 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 earnings per share. As a group, equities research analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

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

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.

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