Wambolt & Associates LLC Increases Holdings in Canadian National Railway (NYSE:CNI)

Wambolt & Associates LLC grew its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 14.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 14,652 shares of the transportation company’s stock after acquiring an additional 1,871 shares during the quarter. Wambolt & Associates LLC’s holdings in Canadian National Railway were worth $1,710,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Canadian National Railway in the second quarter valued at approximately $26,000. Addison Advisors LLC lifted its position in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after buying an additional 148 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after buying an additional 207 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Canadian National Railway in the 2nd quarter valued at $34,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Canadian National Railway during the 1st quarter worth $64,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE CNI opened at $116.55 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $116.17 and its two-hundred day moving average is $122.72. The stock has a market capitalization of $73.71 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.34 and a beta of 0.88. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02.

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 the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the previous year, the company posted $1.31 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. Research analysts expect that Canadian National Railway will post 5.64 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a dividend of $0.614 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s dividend payout ratio is currently 39.07%.

Analyst Ratings Changes

Several research firms have issued reports on CNI. Wells Fargo & Company decreased their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Stephens dropped their price target on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. Bank of America decreased their price objective on Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday. Finally, StockNews.com cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Sixteen analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Canadian National Railway has an average rating of “Hold” and a consensus price target of $137.35.

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.