5,117 Shares in Canadian National Railway Company $CNI Bought by Rede Wealth LLC

Rede Wealth LLC purchased a new position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 5,117 shares of the transportation company’s stock, valued at approximately $483,000.

Other hedge funds also recently made changes to their positions in the company. Addison Advisors LLC boosted its position in shares of Canadian National Railway by 124.0% during the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 150 shares in the last quarter. First Horizon Corp bought a new position in Canadian National Railway during the third quarter worth about $30,000. Curio Wealth LLC lifted its stake in Canadian National Railway by 31,600.0% during the second quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock worth $33,000 after purchasing an additional 316 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new stake in Canadian National Railway during the third quarter valued at approximately $50,000. Finally, Private Trust Co. NA grew its stake in shares of Canadian National Railway by 30.8% in the 3rd quarter. Private Trust Co. NA now owns 603 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of CNI stock opened at $98.59 on Friday. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $108.75. The stock has a market capitalization of $60.67 billion, a PE ratio of 18.71, a PEG ratio of 2.22 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.42 and a current ratio of 0.60. The stock’s fifty day moving average is $96.07 and its 200-day moving average is $97.00.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.05. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the company earned $1.72 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be given a dividend of $0.8875 per share. The ex-dividend date is Tuesday, December 9th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.6%. Canadian National Railway’s dividend payout ratio (DPR) is currently 48.01%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNI. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Royal Bank Of Canada lifted their price objective on Canadian National Railway from $148.00 to $158.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Wall Street Zen upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Barclays lowered their target price on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a report on Thursday, October 2nd. Finally, Wells Fargo & Company cut their price target on shares of Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $117.36.

About Canadian National Railway

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.