Ritholtz Wealth Management Raises Position in Canadian National Railway Company (NYSE:CNI)

Ritholtz Wealth Management raised its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 23.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,957 shares of the transportation company’s stock after buying an additional 2,068 shares during the period. Ritholtz Wealth Management’s holdings in Canadian National Railway were worth $1,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. boosted its position in Canadian National Railway by 233.3% in the 4th quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company’s stock valued at $2,537,000 after buying an additional 17,500 shares during the period. Cypress Asset Management Inc. TX purchased a new position in Canadian National Railway in the 4th quarter valued at approximately $875,000. Focus Partners Wealth boosted its position in Canadian National Railway by 6.7% in the 4th quarter. Focus Partners Wealth now owns 10,368 shares of the transportation company’s stock valued at $1,078,000 after buying an additional 655 shares during the period. TD Asset Management Inc. lifted its position in shares of Canadian National Railway by 2.7% during the 4th quarter. TD Asset Management Inc. now owns 11,768,500 shares of the transportation company’s stock worth $1,194,443,000 after purchasing an additional 309,210 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Canadian National Railway by 12,692.7% during the 1st quarter. GAMMA Investing LLC now owns 69,976 shares of the transportation company’s stock worth $6,820,000 after purchasing an additional 69,429 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $102.03 on Wednesday. The company’s fifty day moving average price is $102.24 and its 200 day moving average price is $101.77. Canadian National Railway Company has a 12 month low of $91.65 and a 12 month high of $123.96. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.62 and a quick ratio of 0.43. The firm has a market capitalization of $64.06 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.95 and a beta of 0.98.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $4.38 billion. Canadian National Railway had a net margin of 26.19% and a return on equity of 22.29%. Canadian National Railway’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.72 earnings per share. As a group, sell-side analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be paid a $0.8875 dividend. The ex-dividend date is Monday, June 9th. This is a positive change from Canadian National Railway’s previous dividend of $0.29. This represents a yield of 2.47%. Canadian National Railway’s payout ratio is currently 50.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CNI shares. Jefferies Financial Group decreased their price objective on shares of Canadian National Railway from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Bank of America lifted their price objective on shares of Canadian National Railway from $105.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Stifel Nicolaus decreased their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Citigroup lifted their price objective on shares of Canadian National Railway from $117.00 to $124.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Finally, Susquehanna raised shares of Canadian National Railway from a “neutral” rating to a “positive” rating and set a $120.00 price objective for the company in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Canadian National Railway has a consensus rating of “Moderate Buy” and an average target price of $120.36.

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.