7,311 Shares in Canadian National Railway (NYSE:CNI) Acquired by Meridian Wealth Management LLC

Meridian Wealth Management LLC purchased a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,311 shares of the transportation company’s stock, valued at approximately $856,000.

A number of other institutional investors also recently modified their holdings of CNI. Citigroup Inc. boosted its holdings in shares of Canadian National Railway by 3.4% during the 3rd quarter. Citigroup Inc. now owns 114,124 shares of the transportation company’s stock worth $13,379,000 after buying an additional 3,774 shares during the period. Raymond James Trust N.A. acquired a new stake in shares of Canadian National Railway in the third quarter valued at about $261,000. Charles Schwab Investment Management Inc. lifted its position in shares of Canadian National Railway by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,368,496 shares of the transportation company’s stock worth $160,419,000 after purchasing an additional 66,531 shares during the last quarter. King Luther Capital Management Corp boosted its stake in Canadian National Railway by 2.3% during the 3rd quarter. King Luther Capital Management Corp now owns 8,932 shares of the transportation company’s stock valued at $1,046,000 after purchasing an additional 200 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in Canadian National Railway by 17.7% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 494,511 shares of the transportation company’s stock valued at $57,900,000 after buying an additional 74,278 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE CNI opened at $111.24 on Friday. Canadian National Railway has a 1-year low of $105.28 and a 1-year high of $134.02. The company has a 50 day moving average of $113.14 and a 200-day moving average of $117.17. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The firm has a market cap of $70.06 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.51 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 earnings per share. On average, equities analysts forecast that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is 39.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Evercore ISI reduced their price objective on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research report on Wednesday, October 23rd. Sanford C. Bernstein decreased their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. Stifel Nicolaus lifted their target price on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $125.48.

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.