Vident Advisory LLC Purchases 7,354 Shares of Canadian National Railway Company $CNI

Key Points

• Vident Advisory LLC increased its holdings in Canadian National Railway Company, acquiring an additional 7,354 shares, raising its ownership by 8.4% for a total of 94,642 shares valued at $9,224,000.
• The company reported a 1.35 EPS for the last quarter, missing analysts' estimates of $1.37, with a revenue of $3.14 billion, which also fell short of the expected $4.34 billion.
• Canadian National Railway announced a quarterly dividend increase to $0.6507 per share, up from $0.62, reflecting an annualized dividend yield of 2.7%.

Vident Advisory LLC lifted its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,642 shares of the transportation company's stock after buying an additional 7,354 shares during the quarter. Vident Advisory LLC's holdings in Canadian National Railway were worth $9,224,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNI. Dagco Inc. purchased a new stake in shares of Canadian National Railway in the first quarter worth about $32,000. Bruce G. Allen Investments LLC increased its position in shares of Canadian National Railway by 44.2% in the first 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 bought a new position in shares of Canadian National Railway in the first quarter worth approximately $39,000. Brooklyn Investment Group increased its position in shares of Canadian National Railway by 354.3% in the first quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock worth $42,000 after purchasing an additional 333 shares during the last quarter. Finally, Dunhill Financial LLC increased its position in shares of Canadian National Railway by 1,020.0% in the fourth quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock worth $57,000 after purchasing an additional 510 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Up 0.1%

Shares of NYSE:CNI traded up $0.13 on Thursday, hitting $96.71. 325,999 shares of the company traded hands, compared to its average volume of 1,497,578. The stock has a 50 day simple moving average of $98.16 and a 200-day simple moving average of $99.89. The company has a market cap of $60.37 billion, a PE ratio of 18.60, a PEG ratio of 2.15 and a beta of 0.94. Canadian National Railway Company has a 52 week low of $91.65 and a 52 week high of $121.12. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released 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 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 for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 earnings per share. As a group, research analysts expect that Canadian National Railway Company will post 5.52 earnings per share 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. Investors of record on Monday, September 8th will be issued a $0.6507 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a yield of 2.7%. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's payout ratio is presently 50.19%.

Analysts Set New Price Targets

CNI has been the topic of several research analyst reports. Royal Bank Of Canada decreased their price objective 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. Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. Argus raised Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company dropped their price target 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. Two equities 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company 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.