Sheets Smith Wealth Management Sells 10,000 Shares of Canadian National Railway Company $CNI

Sheets Smith Wealth Management decreased its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 25.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 28,625 shares of the transportation company’s stock after selling 10,000 shares during the period. Sheets Smith Wealth Management’s holdings in Canadian National Railway were worth $2,942,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. High Point Wealth Management LLC acquired a new stake in Canadian National Railway during the fourth quarter valued at approximately $27,000. MidFirst Bank bought a new position in shares of Canadian National Railway during the 4th quarter worth approximately $31,000. Curio Wealth LLC bought a new position in shares of Canadian National Railway during the 4th quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd boosted its stake in Canadian National Railway by 378.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock valued at $35,000 after buying an additional 280 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in Canadian National Railway in the 4th quarter valued at $39,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 0.0%

Shares of CNI opened at $113.42 on Friday. The stock’s fifty day simple moving average is $114.30 and its 200-day simple moving average is $106.30. The firm has a market capitalization of $68.81 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $122.48. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95.

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

Canadian National Railway Announces Dividend

The firm also recently disclosed 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 dividend payout ratio is currently 48.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CNI. Citigroup lifted their price objective on Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Weiss Ratings cut shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Royal Bank Of Canada lifted their price target on shares of Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Barclays boosted their price target on shares of Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Finally, Sanford C. Bernstein boosted their target price on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $122.04.

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.