Reston Wealth Management LLC Acquires New Shares in Canadian National Railway (NYSE:CNI)

Reston Wealth Management LLC bought a new position in Canadian National Railway (NYSE:CNI) (TSE:CNR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 353 shares of the transportation company’s stock, valued at approximately $41,000.

A number of other hedge funds have also added to or reduced their stakes in CNI. US Bancorp DE lifted its holdings in shares of Canadian National Railway by 2.6% in the third quarter. US Bancorp DE now owns 89,014 shares of the transportation company’s stock worth $10,428,000 after buying an additional 2,251 shares in the last quarter. Financial Advocates Investment Management increased its holdings in Canadian National Railway by 6.0% during the 3rd quarter. Financial Advocates Investment Management now owns 3,817 shares of the transportation company’s stock worth $447,000 after acquiring an additional 216 shares during the period. Pinnacle Associates Ltd. lifted its stake in Canadian National Railway by 3.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 103,395 shares of the transportation company’s stock worth $12,990,000 after purchasing an additional 3,242 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Canadian National Railway by 2.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,962 shares of the transportation company’s stock valued at $1,167,000 after purchasing an additional 268 shares during the period. Finally, Pathway Financial Advisers LLC grew its position in shares of Canadian National Railway by 11,610.3% during the 3rd quarter. Pathway Financial Advisers LLC now owns 178,114 shares of the transportation company’s stock valued at $20,866,000 after purchasing an additional 176,593 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CNI shares. Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research note on Monday, October 7th. Evercore ISI cut their price objective on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. Susquehanna lowered their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Citigroup boosted their price target on shares of Canadian National Railway from $125.00 to $126.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Barclays raised their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $125.18.

Canadian National Railway Price Performance

CNI opened at $108.20 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The stock’s 50 day simple moving average is $115.40 and its 200 day simple moving average is $118.82. The firm has a market cap of $68.04 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.42 and a beta of 0.89. Canadian National Railway has a 1 year low of $107.56 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the firm posted $1.26 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts predict that Canadian National Railway will post 5.54 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Canadian National Railway 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.