Canadian National Railway (NYSE:CNI) Shares Acquired by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC grew its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 20.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,396 shares of the transportation company’s stock after purchasing an additional 570 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Canadian National Railway were worth $401,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CNI. Rathbones Group PLC increased its holdings in Canadian National Railway by 9.5% in the second quarter. Rathbones Group PLC now owns 7,230 shares of the transportation company’s stock valued at $854,000 after buying an additional 630 shares in the last quarter. Nia Impact Advisors LLC increased its stake in shares of Canadian National Railway by 3.7% in the 2nd quarter. Nia Impact Advisors LLC now owns 21,608 shares of the transportation company’s stock valued at $2,553,000 after purchasing an additional 762 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Canadian National Railway by 10.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 942,229 shares of the transportation company’s stock worth $111,306,000 after purchasing an additional 85,298 shares during the period. Thoroughbred Financial Services LLC raised its holdings in Canadian National Railway by 13.6% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 13,215 shares of the transportation company’s stock worth $1,561,000 after purchasing an additional 1,579 shares during the period. Finally, Meeder Advisory Services Inc. purchased a new position in Canadian National Railway during the second quarter worth approximately $269,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

CNI stock opened at $118.77 on Monday. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02. The firm has a market capitalization of $75.11 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The business has a 50 day simple moving average of $116.19 and a 200-day simple moving average of $122.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the previous year, the company earned $1.31 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that Canadian National Railway will post 5.58 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.614 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.07%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Barclays cut their price target on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Stephens decreased their price objective on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Bank of America cut their target price on shares of Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Sanford C. Bernstein lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $146.25 to $130.67 in a research note on Monday, July 8th. Sixteen investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $137.35.

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.