Doheny Asset Management CA Boosts Stock Position in Canadian National Railway (NYSE:CNI)

Doheny Asset Management CA boosted its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,000 shares of the transportation company’s stock after purchasing an additional 110 shares during the quarter. Doheny Asset Management CA’s holdings in Canadian National Railway were worth $354,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Canadian National Railway by 1.8% in 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 acquiring an additional 387,975 shares during the last quarter. Wellington Management Group LLP increased 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 valued at $2,761,473,000 after acquiring an additional 1,907,938 shares during the last quarter. FIL Ltd increased its holdings in shares of Canadian National Railway by 7.2% in the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after acquiring an additional 1,280,726 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Canadian National Railway by 2.8% in 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 acquiring an additional 314,600 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of Canadian National Railway by 18.1% in the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after acquiring an additional 1,379,976 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of research analyst reports. Susquehanna lowered their price target on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Sanford C. Bernstein downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $146.25 to $130.67 in a report on Monday, July 8th. Barclays lowered their price target on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Stephens lowered their price objective on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus lowered their price objective on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Sixteen investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus target price of $138.35.

Canadian National Railway Trading Up 1.6 %

Shares of Canadian National Railway stock opened at $117.20 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The firm has a market cap of $73.80 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 2.34 and a beta of 0.88. The business has a fifty day simple moving average of $116.25 and a 200-day simple moving average of $122.87. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts forecast that Canadian National Railway will post 5.64 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.614 per share. This represents a $2.46 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s dividend payout ratio is 39.08%.

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.