NewEdge Advisors LLC Has $584,000 Holdings in Canadian National Railway Company $CNI

NewEdge Advisors LLC trimmed its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 42.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,687 shares of the transportation company’s stock after selling 4,179 shares during the period. NewEdge Advisors LLC’s holdings in Canadian National Railway were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNI. High Point Wealth Management LLC acquired a new position in shares of Canadian National Railway during the 4th quarter worth approximately $27,000. MidFirst Bank acquired a new stake in Canadian National Railway during the 4th quarter valued at $31,000. Curio Wealth LLC acquired a new stake in Canadian National Railway during the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd boosted its position in Canadian National Railway by 378.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after purchasing an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC bought a new position in Canadian National Railway during the first quarter worth $37,000. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CNI shares. Stephens upgraded shares of Canadian National Railway to a “hold” rating in a report on Wednesday, July 8th. Citizens Jmp initiated coverage on shares of Canadian National Railway in a report on Wednesday, July 15th. They set a “market perform” rating for the company. Barclays lifted their target price on shares of Canadian National Railway from $109.00 to $130.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a report on Monday, July 27th. Finally, Bank of America raised their price objective on shares of Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.40.

Canadian National Railway Stock Up 0.6%

CNI stock opened at $128.38 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. The stock has a market capitalization of $77.69 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.38 and a beta of 0.95. The business’s fifty day moving average price is $123.80 and its two-hundred day moving average price is $114.49. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $131.55.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the business posted $1.87 earnings per share. Canadian National Railway’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts anticipate that Canadian National Railway Company will post 5.81 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, September 29th. Shareholders of record on Tuesday, September 8th will be paid a $0.915 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $3.66 annualized dividend and a yield of 2.9%. Canadian National Railway’s payout ratio is 47.34%.

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.