Kestra Investment Management LLC Buys Shares of 576 Canadian National Railway (NYSE:CNI)

Kestra Investment Management LLC purchased a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 576 shares of the transportation company’s stock, valued at approximately $59,000.

A number of other institutional investors have also recently modified their holdings of CNI. Fortitude Family Office LLC boosted its stake in shares of Canadian National Railway by 738.7% in the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in Canadian National Railway during the fourth quarter worth $30,000. Coastline Trust Co purchased a new stake in Canadian National Railway during the third quarter worth $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Canadian National Railway by 48.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock worth $34,000 after purchasing an additional 108 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in Canadian National Railway during the third quarter worth $41,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

CNI stock opened at $103.98 on Friday. The stock has a 50-day moving average price of $102.64 and a two-hundred day moving average price of $109.42. Canadian National Railway has a 12-month low of $98.69 and a 12-month high of $134.02. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The company has a market cap of $65.33 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.93 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. As a group, research analysts predict that Canadian National Railway will post 5.5 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s payout ratio is 47.66%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CNI shares. Bank of America cut their price target on Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Jefferies Financial Group raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Friday, January 10th. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $126.00 to $130.00 in a report on Tuesday, November 12th. Finally, TD Securities raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.19.

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.