SVB Wealth LLC Boosts Stock Holdings in Canadian National Railway (NYSE:CNI)

SVB Wealth LLC raised its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 21.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,486 shares of the transportation company’s stock after acquiring an additional 1,301 shares during the period. SVB Wealth LLC’s holdings in Canadian National Railway were worth $940,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Avantax Advisory Services Inc. boosted its holdings in shares of Canadian National Railway by 33.5% during the third quarter. Avantax Advisory Services Inc. now owns 11,998 shares of the transportation company’s stock worth $1,300,000 after purchasing an additional 3,011 shares during the period. Spire Wealth Management grew its stake in shares of Canadian National Railway by 5.0% in the third quarter. Spire Wealth Management now owns 4,602 shares of the transportation company’s stock worth $498,000 after purchasing an additional 219 shares during the last quarter. YCG LLC grew its stake in shares of Canadian National Railway by 6.0% in the fourth 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. Manning & Napier Group LLC grew its stake in shares of Canadian National Railway by 7.5% in the fourth quarter. Manning & Napier Group LLC now owns 669,988 shares of the transportation company’s stock worth $84,171,000 after purchasing an additional 46,517 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new stake in shares of Canadian National Railway in the third quarter worth about $1,266,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company raised their target price on Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Citigroup raised their target price on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Susquehanna Bancshares lifted their price objective on Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a research report on Monday, January 8th. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $145.00 in a research report on Wednesday, April 10th. Finally, Stifel Nicolaus lifted their price objective on Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Eighteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $147.52.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $127.63 on Friday. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The firm has a market cap of $81.52 billion, a P/E ratio of 20.13, a PEG ratio of 2.21 and a beta of 0.88. The company has a 50 day moving average of $129.70 and a 200 day moving average of $121.66. The company has a quick ratio of 0.47, a current ratio of 0.61 and a debt-to-equity ratio of 0.80.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a net margin of 33.38% and a return on equity of 23.56%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.25 billion. As a group, research analysts expect that Canadian National Railway will post 5.94 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were issued a $0.638 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.58. This represents a $2.55 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Wednesday, March 6th. Canadian National Railway’s payout ratio is presently 39.59%.

About Canadian National Railway

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.