Canadian National Railway Company $CNI Shares Acquired by Logan Capital Management Inc.

Key Points

• Logan Capital Management Inc. increased its stake in Canadian National Railway by 50.7%, managing to acquire an additional 8,916 shares worth $2,581,000 by the end of the most recent reporting period.
• The Canadian National Railway reported a missed earnings estimate of $1.35 per share, falling short of the consensus estimate of $1.37, amidst a revenue decline of 1.3% year-over-year.
• The company declared a quarterly dividend of $0.6507 per share, a slight increase from the previous dividend of $0.62, representing an annualized dividend of $2.60 and a yield of 2.8%.

Logan Capital Management Inc. raised its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 50.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 26,486 shares of the transportation company's stock after purchasing an additional 8,916 shares during the period. Logan Capital Management Inc.'s holdings in Canadian National Railway were worth $2,581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dagco Inc. purchased a new position in Canadian National Railway in the 1st quarter valued at $32,000. Bruce G. Allen Investments LLC lifted its holdings in 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 valued at $34,000 after purchasing an additional 106 shares in the last quarter. CX Institutional purchased a new position in Canadian National Railway in the 1st quarter valued at $39,000. Brooklyn Investment Group lifted its holdings in Canadian National Railway by 354.3% in the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock valued at $42,000 after purchasing an additional 333 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Canadian National Railway by 31.3% in the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock valued at $70,000 after purchasing an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CNI shares. Wells Fargo & Company reduced their price target 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. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. Royal Bank Of Canada lowered their price target on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Bank of America boosted their price target on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Canadian National Railway presently has an average rating of "Hold" and a consensus target price of $118.36.

Canadian National Railway Trading Down 0.5%

NYSE CNI traded down $0.43 during trading hours on Friday, reaching $93.50. The company had a trading volume of 1,232,979 shares, compared to its average volume of 1,734,299. The stock has a 50-day moving average of $96.67 and a 200 day moving average of $99.52. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $121.12. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $58.04 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 2.16 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS 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 company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the company earned $1.84 EPS. The company's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, research 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 business also recently announced 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 is an increase from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. Canadian National Railway's dividend payout ratio is currently 50.19%.

Canadian National Railway Company 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.