Sheets Smith Wealth Management Decreases Stock Holdings in Canadian National Railway (NYSE:CNI)

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

Other large investors also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership acquired a new position in shares of Canadian National Railway during the 3rd quarter worth about $273,243,000. Morgan Stanley raised its holdings in shares of Canadian National Railway by 53.2% during the third quarter. Morgan Stanley now owns 2,879,091 shares of the transportation company’s stock valued at $311,892,000 after acquiring an additional 1,000,244 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Canadian National Railway by 5.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after acquiring an additional 625,500 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Canadian National Railway by 98.9% in the third quarter. Quadrature Capital Ltd now owns 1,229,900 shares of the transportation company’s stock worth $134,136,000 after acquiring an additional 611,400 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Canadian National Railway by 7.3% during the third quarter. Deutsche Bank AG now owns 5,575,661 shares of the transportation company’s stock worth $604,011,000 after purchasing an additional 378,513 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Up 1.3 %

Shares of NYSE CNI traded up $1.58 during mid-day trading on Friday, reaching $123.54. The company had a trading volume of 795,232 shares, compared to its average volume of 1,073,122. The firm has a 50 day simple moving average of $128.73 and a two-hundred day simple moving average of $123.04. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. The stock has a market cap of $78.90 billion, a P/E ratio of 19.70, a PEG ratio of 2.17 and a beta of 0.89.

Canadian National Railway Cuts Dividend

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

Wall Street Analyst Weigh In

CNI has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Susquehanna upped their price objective on shares of Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Jefferies Financial Group started coverage on shares of Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 target price on the stock. Susquehanna Bancshares boosted their target price on Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a report on Monday, January 8th. Finally, CIBC cut Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 10th. Seventeen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $149.05.

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.