Strong Tower Advisory Services Buys 1,856 Shares of Canadian National Railway (NYSE:CNI)

Strong Tower Advisory Services grew its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 14.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,083 shares of the transportation company’s stock after acquiring an additional 1,856 shares during the period. Strong Tower Advisory Services’ holdings in Canadian National Railway were worth $1,767,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Canadian National Railway in the second quarter worth $26,000. Addison Advisors LLC increased its holdings in Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after acquiring an additional 148 shares during the last quarter. GAMMA Investing LLC raised its stake in 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 acquiring an additional 207 shares during the period. ORG Partners LLC purchased a new stake in Canadian National Railway during the second quarter valued at about $34,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Canadian National Railway in the first quarter worth about $64,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

CNI has been the subject of several analyst reports. Evercore ISI cut their price objective on shares of Canadian National Railway from $128.00 to $119.00 and set an “in-line” rating for the company in a report on Wednesday, September 25th. Barclays raised their target price on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and cut their price target for the company from $129.00 to $122.00 in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $128.38.

Canadian National Railway Price Performance

CNI traded up $1.00 during midday trading on Friday, hitting $116.10. The stock had a trading volume of 300,089 shares, compared to its average volume of 1,091,407. The company has a market cap of $73.11 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 2.52 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The business has a fifty day moving average of $115.47 and a 200 day moving average of $120.83.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share 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 the consensus estimate of $4.40 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities analysts forecast that Canadian National Railway will post 5.54 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a $0.614 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, September 6th. Canadian National Railway’s dividend payout ratio is 39.26%.

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.