Canadian National Railway Company $CNI Holdings Lowered by Sheets Smith Wealth Management

Sheets Smith Wealth Management decreased its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 25.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,625 shares of the transportation company’s stock after selling 10,000 shares during the quarter. Sheets Smith Wealth Management’s holdings in Canadian National Railway were worth $2,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new stake in shares of Canadian National Railway during the first quarter valued at approximately $311,000. Focus Partners Wealth grew its position in Canadian National Railway by 11.1% during the 1st quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after purchasing an additional 1,146 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Canadian National Railway during the 2nd quarter worth approximately $202,000. EverSource Wealth Advisors LLC raised its stake in Canadian National Railway by 52.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 383 shares during the period. Finally, Baird Financial Group Inc. raised its stake in Canadian National Railway by 2.9% during the 2nd quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock valued at $1,778,000 after purchasing an additional 474 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Royal Bank Of Canada raised their target price on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Canadian Imperial Bank of Commerce lifted their target price on Canadian National Railway from C$164.00 to C$182.00 and gave the company an “outperformer” rating in a research note on Tuesday, June 9th. Sanford C. Bernstein upped their target price on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a report on Tuesday, March 31st. Barclays increased their price target on shares of Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, Citigroup boosted their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.04.

Canadian National Railway Stock Down 0.0%

Shares of Canadian National Railway stock opened at $113.42 on Friday. The firm has a market cap of $68.81 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 2.17 and a beta of 0.96. The stock has a 50-day simple moving average of $114.30 and a 200-day simple moving average of $106.30. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $122.48. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.31. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.85 earnings per share. On average, equities research analysts expect that Canadian National Railway Company will post 5.76 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, June 9th. Canadian National Railway’s payout ratio is 48.55%.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.