Modera Wealth Management LLC Buys New Shares in Canadian National Railway Company (NYSE:CNI)

Key Points

• Modera Wealth Management LLC has taken a new position in Canadian National Railway Company, acquiring 3,681 shares valued at approximately $359,000 in the first quarter.
• The company recently declared a quarterly dividend of $0.6507 per share, representing an annualized dividend of $2.60 and a yield of 2.8%, which is an increase from the previous dividend.
• Analysts have varied price targets for Canadian National Railway, with the consensus price target currently at $118.36 and an overall average rating of "Hold."

Modera Wealth Management LLC bought a new position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,681 shares of the transportation company's stock, valued at approximately $359,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNI. Bruce G. Allen Investments LLC boosted its position in shares of Canadian National Railway by 44.2% during 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 period. CX Institutional purchased a new stake in Canadian National Railway in the first quarter valued at $39,000. Dunhill Financial LLC lifted its position in 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 acquiring an additional 510 shares during the last quarter. 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. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Canadian National Railway by 57.8% in the first quarter. Creative Financial Designs Inc. ADV now owns 819 shares of the transportation company's stock valued at $80,000 after buying an additional 300 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

Shares of NYSE CNI traded down $0.63 during trading hours on Friday, hitting $92.82. 2,049,316 shares of the stock were exchanged, compared to its average volume of 1,824,892. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The company's 50 day moving average is $102.49 and its 200 day moving average is $101.25. The firm has a market capitalization of $58.15 billion, a P/E ratio of 17.85, a P/E/G ratio of 2.07 and a beta of 0.94. Canadian National Railway Company has a one year low of $91.65 and a one year high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data 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 business had revenue of $3.14 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 EPS. On average, research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company 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 dividend of $0.6507 per share. This represents a $2.60 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's payout ratio is 49.81%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CNI. Royal Bank Of Canada dropped their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. JPMorgan Chase & Co. restated a "neutral" rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. Susquehanna cut their target price on shares of Canadian National Railway from $122.00 to $120.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of Canadian National Railway from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Evercore ISI downgraded shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target on the stock. in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Canadian National Railway presently has an average rating of "Hold" and an average target price of $118.36.

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.