Concurrent Investment Advisors LLC Increases Stock Position in Canadian National Railway (NYSE:CNI)

Concurrent Investment Advisors LLC grew its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 82.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,274 shares of the transportation company’s stock after purchasing an additional 2,830 shares during the period. Concurrent Investment Advisors LLC’s holdings in Canadian National Railway were worth $826,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Canadian National Railway by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock valued at $2,813,534,000 after buying an additional 387,975 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Canadian National Railway by 9.6% in the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares during the period. FIL Ltd increased its position in shares of Canadian National Railway by 7.2% during the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after purchasing an additional 1,280,726 shares during the last quarter. TD Asset Management Inc raised its holdings in Canadian National Railway by 2.8% during the 4th quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock valued at $1,471,733,000 after buying an additional 314,600 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings in Canadian National Railway by 0.7% during the 4th quarter. 1832 Asset Management L.P. now owns 8,785,479 shares of the transportation company’s stock valued at $1,103,720,000 after buying an additional 61,752 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 1.1 %

CNI stock traded up $1.36 during midday trading on Monday, hitting $121.58. 886,632 shares of the company’s stock were exchanged, compared to its average volume of 1,065,741. The business has a 50-day simple moving average of $122.63 and a two-hundred day simple moving average of $125.89. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $76.89 billion, a PE ratio of 19.27, a P/E/G ratio of 2.28 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.01. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.16 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. On average, sell-side analysts predict that Canadian National Railway will post 5.85 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.50 annualized dividend and a dividend yield of 2.06%. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.55%.

Analyst Ratings Changes

CNI has been the subject of a number of research analyst reports. Wells Fargo & Company began coverage on Canadian National Railway in a research note on Friday, June 7th. They set an “equal weight” rating and a $130.00 price target for the company. National Bank Financial raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Sanford C. Bernstein lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $146.25 to $130.67 in a report on Monday, July 8th. Finally, Barclays upped their target price on shares of Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Eighteen equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Canadian National Railway presently has a consensus rating of “Hold” and an average price target of $148.03.

About Canadian National Railway

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.