Canadian National Railway Company $CNI Stock Position Lifted by Modera Wealth Management LLC

Modera Wealth Management LLC boosted its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 328.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,760 shares of the transportation company’s stock after buying an additional 12,079 shares during the quarter. Modera Wealth Management LLC’s holdings in Canadian National Railway were worth $1,640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bennett Selby Investments LP increased its stake in shares of Canadian National Railway by 2.2% in the second quarter. Bennett Selby Investments LP now owns 4,796 shares of the transportation company’s stock worth $499,000 after acquiring an additional 101 shares during the last quarter. Heartland Advisors Inc. grew its stake in Canadian National Railway by 0.9% in the first quarter. Heartland Advisors Inc. now owns 12,293 shares of the transportation company’s stock valued at $1,198,000 after purchasing an additional 108 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in Canadian National Railway by 13.4% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 929 shares of the transportation company’s stock worth $97,000 after purchasing an additional 110 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Canadian National Railway by 3.3% during the 2nd quarter. IFP Advisors Inc now owns 3,582 shares of the transportation company’s stock worth $373,000 after purchasing an additional 115 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of Canadian National Railway by 5.3% during the 2nd quarter. D.A. Davidson & CO. now owns 2,374 shares of the transportation company’s stock worth $247,000 after purchasing an additional 119 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

NYSE:CNI opened at $95.00 on Friday. The firm has a market capitalization of $58.78 billion, a PE ratio of 18.27, a PEG ratio of 2.13 and a beta of 0.95. Canadian National Railway Company has a 1 year low of $91.07 and a 1 year high of $113.08. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The firm’s fifty day simple moving average is $94.92 and its 200 day simple moving average is $98.61.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $4.15 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.72 EPS. On average, sell-side analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be issued a $0.8875 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $3.55 dividend on an annualized basis and a yield of 3.7%. Canadian National Railway’s payout ratio is 48.01%.

Analyst Ratings Changes

CNI has been the topic of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Canadian National Railway in a report on Wednesday, October 8th. Evercore ISI increased their price target on shares of Canadian National Railway from $98.00 to $103.00 and gave the stock an “in-line” rating in a research note on Monday, November 3rd. Royal Bank Of Canada raised their price target on shares of Canadian National Railway from $148.00 to $158.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Wall Street Zen raised shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Susquehanna increased their target price on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $114.00.

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.