HB Wealth Management LLC Acquires Shares of 11,957 Canadian National Railway Company (NYSE:CNI)

Key Points

• HB Wealth Management LLC has acquired a new position in Canadian National Railway Company, purchasing 11,957 shares valued at approximately $1,165,000 in the 1st quarter.
• Canadian National Railway has seen various hedge funds increase their positions, with 80.74% of the stock now held by institutional investors.
• The company declared a quarterly dividend of $0.6507 per share, representing an annualized dividend of $2.60 and a yield of 2.76%, an increase from the previous dividend payout.

HB Wealth Management LLC bought a new stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,957 shares of the transportation company's stock, valued at approximately $1,165,000.

Several other hedge funds have also recently added to or reduced their stakes in CNI. Royal Bank of Canada grew its stake in Canadian National Railway by 7.5% in the fourth quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock valued at $2,817,616,000 after purchasing an additional 1,934,622 shares in the last quarter. Capital International Investors grew its stake in Canadian National Railway by 12.8% in the fourth quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock valued at $1,199,680,000 after purchasing an additional 1,341,133 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Canadian National Railway by 0.3% during the 1st quarter. TD Asset Management Inc now owns 11,798,566 shares of the transportation company's stock worth $1,148,008,000 after acquiring an additional 30,066 shares during the period. JARISLOWSKY FRASER Ltd boosted its stake in shares of Canadian National Railway by 4.8% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock worth $926,573,000 after acquiring an additional 422,078 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Canadian National Railway by 5.9% during the 4th quarter. Deutsche Bank AG now owns 5,701,425 shares of the transportation company's stock worth $578,752,000 after acquiring an additional 316,422 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CNI shares. Wells Fargo & Company reduced 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. Stephens lifted their price target 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. Bank of America lifted their price target on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays dropped their price target on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a report on Wednesday, July 23rd. Finally, Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued 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.com, the stock has an average rating of "Hold" and an average price target of $118.36.

Canadian National Railway Price Performance

CNI stock traded down $0.63 during mid-day trading on Friday, reaching $92.82. The company's stock had a trading volume of 2,049,316 shares, compared to its average volume of 1,490,429. The stock has a market cap of $58.15 billion, a PE ratio of 17.85, a P/E/G ratio of 2.10 and a beta of 0.97. 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 fifty-two week low of $91.65 and a fifty-two week high of $121.12. The company's 50 day moving average is $102.74 and its two-hundred day moving average is $101.30.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced 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 firm had revenue of $3.14 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 EPS. Equities research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be given 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 a boost from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's dividend payout ratio is 50.19%.

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.