Canadian National Railway (NYSE:CNI) Shares Purchased by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE boosted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,139 shares of the transportation company’s stock after purchasing an additional 1,539 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Canadian National Railway were worth $3,648,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LVW Advisors LLC raised its position in shares of Canadian National Railway by 59.9% in the first quarter. LVW Advisors LLC now owns 4,696 shares of the transportation company’s stock valued at $619,000 after buying an additional 1,760 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Canadian National Railway by 27.0% in the first quarter. Hexagon Capital Partners LLC now owns 1,771 shares of the transportation company’s stock valued at $233,000 after purchasing an additional 376 shares during the last quarter. Applied Capital LLC FL purchased a new position in Canadian National Railway during the first quarter worth approximately $292,000. Dixon Mitchell Investment Counsel Inc. boosted its stake in Canadian National Railway by 1.1% during the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 475,462 shares of the transportation company’s stock worth $62,670,000 after buying an additional 5,068 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its holdings in Canadian National Railway by 1.4% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 22,141 shares of the transportation company’s stock valued at $2,916,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CNI shares. Stifel Nicolaus boosted their price target on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Barclays increased their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Sanford C. Bernstein reduced 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. The Goldman Sachs Group lowered their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Finally, Stephens restated an “equal weight” rating and issued a $116.00 price objective on shares of Canadian National Railway in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Canadian National Railway has an average rating of “Hold” and an average target price of $125.18.

Canadian National Railway Stock Up 0.1 %

Shares of NYSE CNI traded up $0.13 during mid-day trading on Monday, hitting $111.10. The company had a trading volume of 48,501 shares, compared to its average volume of 1,109,474. The company has a market capitalization of $69.86 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 2.49 and a beta of 0.88. The business’s 50-day simple moving average is $115.93 and its 200 day simple moving average is $119.36. Canadian National Railway has a 1-year low of $105.17 and a 1-year high of $134.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the company earned $1.26 EPS. Canadian National Railway’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts predict that Canadian National Railway will post 5.54 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $0.6108 dividend. 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 is presently 39.26%.

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.