Canadian National Railway (NYSE:CNI) Position Reduced by Sheets Smith Wealth Management

Sheets Smith Wealth Management lowered its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 39,203 shares of the transportation company’s stock after selling 100 shares during the period. Sheets Smith Wealth Management’s holdings in Canadian National Railway were worth $4,925,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. JFS Wealth Advisors LLC increased its holdings in Canadian National Railway by 241.1% in the third quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock valued at $35,000 after buying an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Canadian National Railway by 121.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 202 shares in the last quarter. Rational Advisors LLC bought a new position in Canadian National Railway during the third quarter worth $41,000. Crewe Advisors LLC acquired a new position in Canadian National Railway in the third quarter worth $43,000. Finally, Keener Financial Planning LLC bought a new stake in Canadian National Railway during the fourth quarter valued at $46,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

CNI has been the topic of a number of recent research reports. Susquehanna Bancshares raised their price target on shares of Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a research report on Monday, January 8th. Citigroup upped their target price on Canadian National Railway from $121.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. CIBC cut Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 10th. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $145.00 in a research report on Wednesday, April 10th. Finally, Barclays increased their target price on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Seventeen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $149.05.

Canadian National Railway Stock Performance

CNI stock traded up $1.58 on Friday, reaching $123.54. The company’s stock had a trading volume of 795,232 shares, compared to its average volume of 1,073,122. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The company has a market capitalization of $78.90 billion, a P/E ratio of 19.70, a price-to-earnings-growth ratio of 2.17 and a beta of 0.89. The firm has a fifty day moving average of $128.73 and a two-hundred day moving average of $123.04. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s payout ratio is currently 40.03%.

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.