Nwam LLC Purchases Shares of 14,589 Canadian National Railway Company $CNI

Nwam LLC acquired a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,589 shares of the transportation company’s stock, valued at approximately $1,499,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Maryland State Retirement & Pension System raised its stake in shares of Canadian National Railway by 5.0% in the first quarter. Maryland State Retirement & Pension System now owns 61,351 shares of the transportation company’s stock valued at $6,316,000 after purchasing an additional 2,925 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in Canadian National Railway by 21.2% during the first quarter. Hillsdale Investment Management Inc. now owns 96,553 shares of the transportation company’s stock worth $9,935,000 after buying an additional 16,856 shares in the last quarter. LGT Fund Management Co Ltd. boosted its stake in Canadian National Railway by 98.1% during the first quarter. LGT Fund Management Co Ltd. now owns 40,889 shares of the transportation company’s stock worth $4,209,000 after buying an additional 20,249 shares in the last quarter. Carnegie Investment Counsel increased its holdings in Canadian National Railway by 7.9% in the 1st quarter. Carnegie Investment Counsel now owns 3,763 shares of the transportation company’s stock valued at $387,000 after buying an additional 277 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Canadian National Railway by 22.8% in the 1st quarter. Fifth Third Bancorp now owns 15,366 shares of the transportation company’s stock valued at $1,579,000 after buying an additional 2,849 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CNI. Bank of America raised their price objective on shares of Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Evercore raised shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 target price on the stock in a research note on Thursday, June 25th. Canadian Imperial Bank of Commerce increased their price target on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a research report on Thursday, June 25th. Citizens Jmp initiated coverage on shares of Canadian National Railway in a research note on Wednesday. They set a “market perform” rating for the company. Finally, National Bank Financial set a $124.00 price objective on Canadian National Railway in a report on Thursday, June 25th. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $132.12.

Canadian National Railway Stock Down 0.6%

Shares of NYSE:CNI opened at $124.08 on Thursday. The company’s fifty day moving average is $117.79 and its 200-day moving average is $109.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $126.12. The company has a market capitalization of $75.19 billion, a PE ratio of 22.56, a P/E/G ratio of 2.37 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.31. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the company posted $1.85 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts predict that Canadian National Railway Company will post 5.68 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.915 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $3.66 annualized dividend and a dividend yield of 2.9%. Canadian National Railway’s dividend payout ratio (DPR) is presently 48.55%.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.