Davis Rea LTD. Grows Position in Canadian National Railway Company $CNI

Davis Rea LTD. increased its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 6.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,212 shares of the transportation company’s stock after buying an additional 2,400 shares during the quarter. Davis Rea LTD.’s holdings in Canadian National Railway were worth $3,967,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Dagco Inc. purchased a new position in shares of Canadian National Railway in the 1st quarter valued at approximately $32,000. CX Institutional purchased a new position in shares of Canadian National Railway in the 1st quarter valued at approximately $39,000. Brooklyn Investment Group grew its stake in shares of Canadian National Railway by 354.3% in the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 333 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Canadian National Railway by 42.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 167 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Canadian National Railway by 31.3% in the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company’s stock valued at $70,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Canadian National Railway in a research note on Wednesday. Argus upgraded Canadian National Railway to a “hold” rating in a research note on Friday, June 27th. Citigroup lowered their target price on Canadian National Railway from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, July 9th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Finally, National Bank Financial downgraded Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.30.

Canadian National Railway Stock Down 1.0%

Canadian National Railway stock opened at $94.51 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $116.79. The company has a market cap of $58.67 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96. The stock’s 50 day moving average price is $94.54 and its 200 day moving average price is $98.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. On average, sell-side analysts predict that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 8th were issued a dividend of $0.6507 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Monday, September 8th. Canadian National Railway’s payout ratio is presently 50.19%.

Canadian National Railway 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.