1620 Investment Advisors Inc. Makes New $266,000 Investment in Canadian National Railway (NYSE:CNI)

1620 Investment Advisors Inc. bought a new position in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,253 shares of the transportation company’s stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CNI. Wells Fargo & Company MN grew its position in shares of Canadian National Railway by 61.1% during the 4th quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock valued at $20,375,000 after acquiring an additional 61,498 shares during the period. Royal London Asset Management Ltd. lifted its position in shares of Canadian National Railway by 1.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock valued at $201,351,000 after buying an additional 17,083 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Canadian National Railway during the 2nd quarter worth $134,096,000. Koshinski Asset Management Inc. purchased a new stake in Canadian National Railway in the 1st quarter worth about $627,000. Finally, Virtu Financial LLC bought a new position in Canadian National Railway during the fourth quarter worth about $816,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Up 0.5 %

Shares of NYSE CNI traded up $0.61 during mid-day trading on Thursday, hitting $114.79. The stock had a trading volume of 1,112,865 shares, compared to its average volume of 1,069,917. The business has a 50 day moving average price of $116.48 and a two-hundred day moving average price of $123.88. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. The firm has a market cap of $72.26 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 2.30 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. Canadian National Railway’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. On average, equities analysts anticipate that Canadian National Railway will post 5.62 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a $0.614 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.14%. Canadian National Railway’s dividend payout ratio is currently 39.23%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Stephens decreased their target price on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Susquehanna lowered their price objective on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Sanford C. Bernstein lowered Canadian National Railway from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $146.25 to $130.67 in a research note on Monday, July 8th. Sixteen research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $138.35.

Canadian National Railway 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.