Allworth Financial LP Acquires 1,405 Shares of Canadian National Railway Company $CNI

Allworth Financial LP raised its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 46.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,451 shares of the transportation company’s stock after acquiring an additional 1,405 shares during the period. Allworth Financial LP’s holdings in Canadian National Railway were worth $463,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC bought a new stake in shares of Canadian National Railway in the second quarter worth approximately $310,489,000. The Manufacturers Life Insurance Company boosted its holdings in Canadian National Railway by 37.3% in the first quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company’s stock worth $518,260,000 after purchasing an additional 1,439,617 shares during the last quarter. Nuveen LLC bought a new stake in Canadian National Railway in the 1st quarter worth approximately $112,216,000. Price T Rowe Associates Inc. MD raised its stake in Canadian National Railway by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock valued at $646,983,000 after buying an additional 1,148,569 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Canadian National Railway by 31.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,220,150 shares of the transportation company’s stock valued at $440,008,000 after buying an additional 1,019,914 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

CNI has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Canadian National Railway in a report on Wednesday, October 8th. National Bank Financial downgraded Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company reduced their price target on shares of Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, October 6th. Citigroup raised their price objective on shares of Canadian National Railway from $119.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Canadian National Railway currently has an average rating of “Hold” and a consensus price target of $114.00.

Canadian National Railway Trading Down 0.5%

Shares of Canadian National Railway stock opened at $96.13 on Monday. Canadian National Railway Company has a fifty-two week low of $91.07 and a fifty-two week high of $112.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. The company has a market capitalization of $59.26 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.13 and a beta of 0.95. The company has a fifty day moving average of $94.87 and a 200 day moving average of $98.59.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.28 by $0.05. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $4.15 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.72 earnings per share. On average, sell-side 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be paid a $0.8875 dividend. This represents a $3.55 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, December 9th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s dividend payout ratio is currently 48.01%.

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.