LPL Financial LLC Has $6.96 Million Stock Holdings in Canadian National Railway (NYSE:CNI)

LPL Financial LLC increased its holdings in shares of Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) by 10.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,548 shares of the transportation company’s stock after buying an additional 5,436 shares during the period. LPL Financial LLC’s holdings in Canadian National Railway were worth $6,960,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CNI. New England Capital Financial Advisors LLC acquired a new position in shares of Canadian National Railway in the 4th quarter worth approximately $25,000. Armstrong Advisory Group Inc. acquired a new position in shares of Canadian National Railway in the 4th quarter worth approximately $29,000. Accurate Wealth Management LLC acquired a new position in shares of Canadian National Railway in the 4th quarter worth approximately $41,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Canadian National Railway by 42.6% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 375 shares of the transportation company’s stock worth $45,000 after purchasing an additional 112 shares during the period. Finally, AdvisorNet Financial Inc lifted its position in shares of Canadian National Railway by 36.4% in the 4th quarter. AdvisorNet Financial Inc now owns 386 shares of the transportation company’s stock worth $46,000 after purchasing an additional 103 shares during the period. 86.96% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

NYSE CNI opened at $120.57 on Friday. Canadian National Railway has a 1 year low of $103.79 and a 1 year high of $129.89. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.74 and a quick ratio of 0.57. The firm has a market cap of $80.22 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.51 and a beta of 0.91. The company has a fifty day moving average price of $118.39 and a 200-day moving average price of $120.11.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 9th will be paid a $0.5835 dividend. The ex-dividend date of this dividend is Thursday, June 8th. This represents a $2.33 annualized dividend and a dividend yield of 1.94%. Canadian National Railway’s payout ratio is 38.47%.

Analysts Set New Price Targets

CNI has been the topic of a number of recent analyst reports. Desjardins boosted their price target on shares of Canadian National Railway from C$178.00 to C$180.00 in a research report on Tuesday, April 25th. Wells Fargo & Company boosted their target price on shares of Canadian National Railway from $115.00 to $125.00 in a research report on Tuesday, April 25th. StockNews.com started coverage on shares of Canadian National Railway in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Scotiabank boosted their target price on shares of Canadian National Railway from C$169.00 to C$172.00 in a research report on Thursday, May 4th. Finally, Barclays boosted their target price on shares of Canadian National Railway from $126.00 to $130.00 in a research report on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.61.

Canadian National Railway Profile

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Canadian National Railway Co engages in rail and related transportation business. Its services include rail, intermodal, trucking, supply chain services, business development and maps and network. Its offers their services in automotive, coal, fertilizer, food and beverages, forest products, dimensional loads, grain, metals and minerals and petroleum and chemicals industries.