Atria Investments Inc Raises Stock Position in Canadian National Railway (NYSE:CNI)

Atria Investments Inc increased its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 23.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,435 shares of the transportation company’s stock after acquiring an additional 4,966 shares during the quarter. Atria Investments Inc’s holdings in Canadian National Railway were worth $3,482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its holdings in Canadian National Railway by 61.1% in the 4th quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock worth $20,375,000 after acquiring an additional 61,498 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in Canadian National Railway by 1.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock worth $201,351,000 after purchasing an additional 17,083 shares during the last quarter. Koshinski Asset Management Inc. acquired a new stake in Canadian National Railway during the 1st quarter worth $627,000. YCG LLC boosted its stake in Canadian National Railway by 6.0% during the 4th quarter. YCG LLC now owns 250,085 shares of the transportation company’s stock worth $31,418,000 after purchasing an additional 14,249 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Canadian National Railway during the 4th quarter worth $816,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Down 0.8 %

Shares of CNI stock traded down $0.90 during trading hours on Friday, reaching $112.35. 1,305,366 shares of the stock were exchanged, compared to its average volume of 1,232,382. The business’s fifty day moving average is $119.99 and its two-hundred day moving average is $125.11. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The firm has a market capitalization of $70.72 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.30 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, research analysts expect that Canadian National Railway will post 5.64 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a $0.614 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is 39.23%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Susquehanna lowered their target price on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $145.00 in a research note on Wednesday, April 10th. National Bank Financial raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Finally, Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Sixteen investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $138.35.

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.