Fortitude Family Office LLC Boosts Stock Position in Canadian National Railway (NYSE:CNI)

Fortitude Family Office LLC lifted its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 133.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 608 shares of the transportation company’s stock after purchasing an additional 348 shares during the period. Fortitude Family Office LLC’s holdings in Canadian National Railway were worth $62,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Coastline Trust Co purchased a new stake in shares of Canadian National Railway during the third quarter worth about $34,000. Reston Wealth Management LLC purchased a new stake in Canadian National Railway in the third quarter worth about $41,000. Sanctuary Wealth Management L.L.C. purchased a new stake in Canadian National Railway in the third quarter worth about $56,000. Grove Bank & Trust lifted its holdings in Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after buying an additional 97 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Canadian National Railway by 15.6% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the transportation company’s stock worth $113,000 after buying an additional 131 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

Shares of CNI opened at $99.86 on Friday. The company has a market capitalization of $62.83 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $106.41 and a 200 day moving average of $112.50. Canadian National Railway has a twelve month low of $98.96 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share 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 company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Canadian National Railway will post 5.31 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were given a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 38.14%.

Wall Street Analyst Weigh In

Several brokerages have commented on CNI. Benchmark restated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Bank of America lowered their price objective on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a report on Wednesday. Susquehanna lowered their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays lifted their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.94.

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.