Atwater Malick LLC Increases Position in Canadian National Railway (NYSE:CNI)

Atwater Malick LLC increased its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,579 shares of the transportation company’s stock after acquiring an additional 458 shares during the period. Canadian National Railway comprises approximately 2.8% of Atwater Malick LLC’s portfolio, making the stock its 15th largest position. Atwater Malick LLC’s holdings in Canadian National Railway were worth $8,854,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNI. D L Carlson Investment Group Inc. bought a new stake in Canadian National Railway in the fourth quarter worth $3,228,000. V Square Quantitative Management LLC bought a new stake in Canadian National Railway in the fourth quarter worth $436,000. Cardinal Capital Management Inc. lifted its stake in Canadian National Railway by 0.3% in the fourth quarter. Cardinal Capital Management Inc. now owns 451,010 shares of the transportation company’s stock worth $56,869,000 after purchasing an additional 1,546 shares during the last quarter. Virtu Financial LLC bought a new stake in Canadian National Railway in the fourth quarter worth $816,000. Finally, Syon Capital LLC lifted its stake in Canadian National Railway by 19.2% in the fourth quarter. Syon Capital LLC now owns 7,111 shares of the transportation company’s stock worth $893,000 after purchasing an additional 1,145 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNI has been the subject of several recent research reports. The Goldman Sachs Group lowered their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research note on Wednesday. Susquehanna lowered their price objective on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Sanford C. Bernstein lowered their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research note on Wednesday. Citigroup assumed coverage on shares of Canadian National Railway in a research note on Wednesday. They set a “neutral” rating and a $125.00 price objective for the company. Finally, Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average target price of $126.02.

Canadian National Railway Stock Up 0.6 %

CNI traded up $0.74 during midday trading on Friday, reaching $115.84. The company’s stock had a trading volume of 1,047,595 shares, compared to its average volume of 1,135,281. The firm has a market capitalization of $72.95 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.55 and a beta of 0.88. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The stock’s 50-day moving average is $115.54 and its 200-day moving average is $120.73.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data 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). The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. Canadian National Railway’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.31 EPS. As a group, research analysts expect that Canadian National Railway will post 5.54 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a $0.614 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

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.