Canadian National Railway (NYSE:CNI) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management trimmed its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing 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.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Canadian National Railway during the 2nd quarter worth approximately $26,000. Addison Advisors LLC increased its stake in shares of Canadian National Railway by 159.1% in the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after buying an additional 148 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 229 shares during the last quarter. ORG Partners LLC acquired a new position in Canadian National Railway during the 2nd quarter worth $34,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Canadian National Railway in the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CNI. The Goldman Sachs Group reduced their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Stifel Nicolaus increased their target price on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Stephens reiterated an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a report on Wednesday, October 23rd. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, Bank of America lowered shares of Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their target price for the company from $129.00 to $122.00 in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway currently has an average rating of “Hold” and an average target price of $125.18.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $110.80 on Friday. Canadian National Railway has a 12-month low of $107.54 and a 12-month high of $134.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The firm has a market capitalization of $69.67 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 2.49 and a beta of 0.89. The business has a 50 day simple moving average of $114.71 and a 200 day simple moving average of $118.23.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. On average, equities research analysts anticipate that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Cuts Dividend

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

About Canadian National Railway

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.