Stokes Capital Advisors LLC lifted its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,995 shares of the transportation company’s stock after acquiring an additional 888 shares during the period. Stokes Capital Advisors LLC’s holdings in Canadian National Railway were worth $3,193,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Keebeck Wealth Management LLC bought a new position in shares of Canadian National Railway in the 2nd quarter valued at approximately $34,000. Larson Financial Group LLC bought a new position in shares of Canadian National Railway in the 2nd quarter valued at approximately $42,000. Nachman Norwood & Parrott Inc bought a new position in shares of Canadian National Railway in the 3rd quarter valued at approximately $53,000. Balentine LLC raised its stake in shares of Canadian National Railway by 3,915.4% in the 2nd quarter. Balentine LLC now owns 522 shares of the transportation company’s stock valued at $46,000 after acquiring an additional 509 shares in the last quarter. Finally, Ameritas Investment Company LLC bought a new position in shares of Canadian National Railway in the 1st quarter valued at approximately $45,000. 54.15% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. Scotiabank raised their target price on Canadian National Railway from $137.00 to $152.00 in a report on Friday, October 9th. TD Securities raised their target price on Canadian National Railway from $140.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Bank of America raised their target price on Canadian National Railway from $104.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. Citigroup raised their target price on Canadian National Railway from $80.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Finally, BMO Capital Markets lifted their price objective on Canadian National Railway from $140.00 to $152.00 and gave the stock an “outperform” rating in a report on Tuesday, September 22nd. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $109.56.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 21st. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.36. Canadian National Railway had a return on equity of 20.92% and a net margin of 25.66%. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Equities analysts expect that Canadian National Railway will post 4.04 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Tuesday, September 8th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.41. Canadian National Railway’s dividend payout ratio is presently 39.86%.
About Canadian National Railway
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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