SeaCrest Wealth Management LLC Buys Shares of 600 Canadian National Railway (NYSE:CNI)

SeaCrest Wealth Management LLC bought a new stake in Canadian National Railway (NYSE:CNIGet Rating) (TSE:CNR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 600 shares of the transportation company’s stock, valued at approximately $67,000.

Several other hedge funds have also recently made changes to their positions in CNI. BCK Partners Inc. bought a new stake in shares of Canadian National Railway in the first quarter valued at $2,575,000. SG Americas Securities LLC grew its position in shares of Canadian National Railway by 1,507.5% in the first quarter. SG Americas Securities LLC now owns 18,856 shares of the transportation company’s stock valued at $2,529,000 after purchasing an additional 17,683 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Canadian National Railway by 11.1% in the first quarter. Steward Partners Investment Advisory LLC now owns 2,449 shares of the transportation company’s stock valued at $329,000 after purchasing an additional 245 shares in the last quarter. Atria Investments LLC grew its position in shares of Canadian National Railway by 4.6% in the first quarter. Atria Investments LLC now owns 18,794 shares of the transportation company’s stock valued at $2,521,000 after purchasing an additional 818 shares in the last quarter. Finally, National Asset Management Inc. grew its position in shares of Canadian National Railway by 25.9% in the first quarter. National Asset Management Inc. now owns 3,963 shares of the transportation company’s stock valued at $532,000 after purchasing an additional 816 shares in the last quarter. 79.45% of the stock is currently owned by institutional investors.

Canadian National Railway Price Performance

CNI opened at $124.42 on Friday. The stock has a 50-day moving average price of $115.58 and a 200-day moving average price of $116.37. Canadian National Railway has a 12-month low of $103.79 and a 12-month high of $137.19. The company has a current ratio of 1.01, a quick ratio of 0.80 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $84.25 billion, a P/E ratio of 22.62, a PEG ratio of 2.02 and a beta of 0.88.

Canadian National Railway (NYSE:CNIGet Rating) (TSE:CNR) last released its earnings results on Tuesday, October 25th. The transportation company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.12. Canadian National Railway had a return on equity of 22.23% and a net margin of 29.99%. The company had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the previous year, the company posted $1.21 EPS. Canadian National Railway’s revenue for the quarter was up 25.7% on a year-over-year basis. Equities analysts predict that Canadian National Railway will post 5.56 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 8th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Wednesday, December 7th. Canadian National Railway’s dividend payout ratio (DPR) is presently 40.55%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNI. StockNews.com began coverage on Canadian National Railway in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price target for the company from $128.00 to $135.00 in a research report on Monday, September 12th. Susquehanna Bancshares reduced their price target on Canadian National Railway from $129.00 to $109.00 and set a “neutral” rating for the company in a research report on Wednesday, September 28th. Royal Bank of Canada lifted their price target on Canadian National Railway from C$160.00 to C$163.00 in a research report on Wednesday, July 27th. Finally, National Bank Financial boosted their target price on Canadian National Railway from C$166.00 to C$173.00 in a research report on Thursday, September 22nd. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $141.55.

About Canadian National Railway

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Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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