Essex Financial Services Inc. Has $800,000 Position in Canadian National Railway (NYSE:CNI)

Essex Financial Services Inc. cut its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,883 shares of the transportation company’s stock after selling 292 shares during the quarter. Essex Financial Services Inc.’s holdings in Canadian National Railway were worth $800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its holdings in shares of Canadian National Railway by 738.7% during the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after buying an additional 229 shares in the last quarter. Arlington Trust Co LLC acquired a new stake in Canadian National Railway in the 4th quarter worth about $30,000. Coastline Trust Co bought a new stake in Canadian National Railway in the 3rd quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Canadian National Railway by 48.2% during the 4th 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 bought a new position in shares of Canadian National Railway during the third quarter worth approximately $41,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CNI shares. Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Loop Capital lowered Canadian National Railway from a “hold” rating to a “sell” rating in a report on Monday, February 3rd. Stephens restated an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Stifel Nicolaus upped their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, TD Securities raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $124.19.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $102.65 on Thursday. Canadian National Railway has a one year low of $98.69 and a one year high of $134.02. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. The company has a market cap of $64.49 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.94 and a beta of 0.91. The firm has a 50 day simple moving average of $103.26 and a 200 day simple moving average of $109.98.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 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%. Research analysts predict that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.6159 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Monday, March 10th. Canadian National Railway’s payout ratio is 47.66%.

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.