Miracle Mile Advisors LLC acquired a new position in shares of Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,251 shares of the transportation company’s stock, valued at approximately $228,000.
Other large investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew 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 valued at $30,000 after buying an additional 229 shares in the last quarter. Coastline Trust Co acquired a new stake in Canadian National Railway during the 3rd quarter worth about $34,000. Reston Wealth Management LLC purchased a new position in Canadian National Railway during the 3rd quarter valued at about $41,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at about $56,000. Finally, JCIC Asset Management Inc. lifted its position in shares of Canadian National Railway by 72.3% in the fourth quarter. JCIC Asset Management Inc. now owns 684 shares of the transportation company’s stock worth $69,000 after purchasing an additional 287 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on CNI shares. Veritas upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Barclays upped their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company reduced their price objective on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating for the company in a research report on Monday. Susquehanna dropped their target price on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.77.
Canadian National Railway Price Performance
Shares of Canadian National Railway stock opened at $101.98 on Friday. Canadian National Railway has a 1-year low of $98.96 and a 1-year high of $134.02. The firm has a fifty day simple moving average of $105.85 and a 200-day simple moving average of $112.09. 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 stock has a market capitalization of $64.13 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.21 and a beta of 0.91.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. On average, sell-side analysts expect that Canadian National Railway will post 5.21 earnings per share for the current year.
Canadian National Railway Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 38.30%.
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.
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