Raymond James Trust N.A. Acquires Shares of 2,226 Canadian National Railway (NYSE:CNI)

Raymond James Trust N.A. acquired a new position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,226 shares of the transportation company’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CNI. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Canadian National Railway in the second quarter worth about $26,000. Addison Advisors LLC lifted its holdings in 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. Fortitude Family Office LLC grew its position in shares of Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after acquiring an additional 229 shares in the last quarter. ORG Partners LLC acquired a new position in shares of Canadian National Railway in the 2nd quarter worth approximately $34,000. Finally, Coastline Trust Co bought a new stake in shares of Canadian National Railway in the 3rd quarter valued at approximately $34,000. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CNI shares. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $126.00 to $130.00 in a report on Tuesday, November 12th. Sanford C. Bernstein reduced their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $129.00 to $122.00 in a research report on Friday, October 4th. The Goldman Sachs Group cut their target price on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Finally, Stifel Nicolaus upped their target price on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $125.86.

Canadian National Railway Price Performance

NYSE CNI opened at $111.25 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. Canadian National Railway has a 1 year low of $105.28 and a 1 year high of $134.02. The company has a market cap of $70.06 billion, a PE ratio of 17.83, a PEG ratio of 2.53 and a beta of 0.89. The stock’s 50-day moving average price is $112.66 and its two-hundred day moving average price is $116.84.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.20%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

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.