Hohimer Wealth Management LLC Invests $3.63 Million in Canadian National Railway Company (NYSE:CNI)

Hohimer Wealth Management LLC purchased a new position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 37,229 shares of the transportation company's stock, valued at approximately $3,628,000.

Other hedge funds have also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings 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 acquiring an additional 1,934,622 shares during the period. Vanguard Group Inc. lifted its holdings in Canadian National Railway by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 22,986,678 shares of the transportation company's stock valued at $2,334,251,000 after acquiring an additional 101,228 shares during the period. Capital International Investors lifted its holdings 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 acquiring an additional 1,341,133 shares during the period. TD Asset Management Inc. lifted its holdings in Canadian National Railway by 2.7% in the fourth quarter. TD Asset Management Inc. now owns 11,768,500 shares of the transportation company's stock valued at $1,194,443,000 after acquiring an additional 309,210 shares during the period. Finally, JARISLOWSKY FRASER Ltd lifted its holdings in Canadian National Railway by 4.8% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock valued at $926,573,000 after acquiring an additional 422,078 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Performance

NYSE:CNI opened at $105.20 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.62 and a quick ratio of 0.43. Canadian National Railway Company has a 1 year low of $91.65 and a 1 year high of $123.96. The stock's 50 day simple moving average is $104.37 and its two-hundred day simple moving average is $101.64. The company has a market cap of $65.91 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.11 and a beta of 0.97.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.29% and a net margin of 26.19%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter in the previous year, the company posted $1.72 EPS. The company's revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate 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 dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were paid a $0.8875 dividend. This is an increase from Canadian National Railway's previous dividend of $0.29. The ex-dividend date was Monday, June 9th. This represents a yield of 2.47%. Canadian National Railway's payout ratio is presently 50.49%.

Analyst Ratings Changes

A number of research firms have weighed in on CNI. Wall Street Zen raised Canadian National Railway from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Stephens increased their target price 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. Stifel Nicolaus decreased their price objective on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Jefferies Financial Group decreased their price objective on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Argus raised Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Canadian National Railway has a consensus rating of "Moderate Buy" and an average target price of $120.86.

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.

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