DAVENPORT & Co LLC Purchases 487 Shares of Canadian National Railway Company $CNI

DAVENPORT & Co LLC boosted its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,960 shares of the transportation company’s stock after acquiring an additional 487 shares during the period. DAVENPORT & Co LLC’s holdings in Canadian National Railway were worth $1,036,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Founders Capital Management LLC acquired a new stake in Canadian National Railway during the second quarter valued at approximately $3,335,000. Goldman Sachs Group Inc. boosted its holdings in Canadian National Railway by 39.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock valued at $259,694,000 after purchasing an additional 755,518 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Canadian National Railway by 31.3% during the first 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. Cardinal Capital Management Inc. boosted its holdings in Canadian National Railway by 3.1% during the second quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company’s stock valued at $76,178,000 after purchasing an additional 22,035 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Canadian National Railway by 3.7% during the first quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company’s stock valued at $9,185,000 after purchasing an additional 3,400 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Down 1.0%

Shares of CNI opened at $94.51 on Friday. The business’s 50 day simple moving average is $94.54 and its 200-day simple moving average is $98.95. Canadian National Railway Company has a one year low of $91.07 and a one year high of $116.79. 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 has a market capitalization of $58.67 billion, a P/E ratio of 18.18, a PEG ratio of 2.15 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.02). Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the company posted $1.84 EPS. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts predict that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 8th were issued a dividend of $0.6507 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $2.60 annualized dividend and a yield of 2.8%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.62. Canadian National Railway’s dividend payout ratio (DPR) is currently 50.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CNI shares. Royal Bank Of Canada decreased their price objective on Canadian National Railway from $161.00 to $157.00 and set an “outperform” rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen downgraded Canadian National Railway from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Canadian National Railway in a report on Wednesday. Wells Fargo & Company reduced their target price on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, October 6th. Finally, Bank of America reduced their target price on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Canadian National Railway has a consensus rating of “Moderate Buy” and an average price target of $114.30.

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.