Sheets Smith Wealth Management Reduces Stake in Canadian National Railway (NYSE:CNI)

Sheets Smith Wealth Management cut its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,025 shares of the transportation company’s stock after selling 178 shares during the quarter. Sheets Smith Wealth Management’s holdings in Canadian National Railway were worth $4,572,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CNI. Daiwa Securities Group Inc. acquired a new stake in Canadian National Railway in the 1st quarter valued at about $64,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Canadian National Railway by 36.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 16,922 shares of the transportation company’s stock worth $2,229,000 after purchasing an additional 4,551 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in Canadian National Railway by 32.6% in the 1st quarter. Atomi Financial Group Inc. now owns 2,784 shares of the transportation company’s stock valued at $367,000 after buying an additional 684 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in Canadian National Railway by 82.2% during the 1st quarter. Concurrent Investment Advisors LLC now owns 6,274 shares of the transportation company’s stock valued at $826,000 after buying an additional 2,830 shares during the last quarter. Finally, Choate Investment Advisors increased its position in Canadian National Railway by 2.0% during the first quarter. Choate Investment Advisors now owns 154,612 shares of the transportation company’s stock worth $20,364,000 after buying an additional 2,975 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

CNI opened at $110.80 on Friday. Canadian National Railway has a 52-week low of $107.54 and a 52-week high of $134.02. The company has a 50 day moving average of $114.71 and a two-hundred day moving average of $118.23. The company has a market cap of $69.67 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.49 and a beta of 0.89. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly 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. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the company earned $1.26 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. On average, analysts expect that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a yield of 2.21%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CNI. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. The Goldman Sachs Group lowered their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Bank of America cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. Finally, Susquehanna reduced their price target on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. One 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 given a strong buy rating to the company. According to MarketBeat, Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $125.18.

Canadian National Railway Company 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.