Smithbridge Asset Management Inc. DE Acquires 1,539 Shares of Canadian National Railway (NYSE:CNI)

Smithbridge Asset Management Inc. DE grew its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,139 shares of the transportation company’s stock after purchasing an additional 1,539 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Canadian National Railway were worth $3,648,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. LVW Advisors LLC boosted its position in Canadian National Railway by 59.9% during the first quarter. LVW Advisors LLC now owns 4,696 shares of the transportation company’s stock valued at $619,000 after purchasing an additional 1,760 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Canadian National Railway by 27.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,771 shares of the transportation company’s stock worth $233,000 after acquiring an additional 376 shares in the last quarter. Applied Capital LLC FL purchased a new stake in Canadian National Railway during the first quarter valued at approximately $292,000. Dixon Mitchell Investment Counsel Inc. boosted its stake in Canadian National Railway by 1.1% in the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 475,462 shares of the transportation company’s stock valued at $62,670,000 after acquiring an additional 5,068 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV grew its holdings in Canadian National Railway by 1.4% in the first quarter. Azzad Asset Management Inc. ADV now owns 22,141 shares of the transportation company’s stock worth $2,916,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

CNI stock traded up $0.13 during midday trading on Monday, hitting $111.10. 48,501 shares of the stock traded hands, compared to its average volume of 1,109,474. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. Canadian National Railway has a 1-year low of $105.17 and a 1-year high of $134.02. The stock’s fifty day simple moving average is $115.93 and its 200-day simple moving average is $119.36. The firm has a market cap of $69.86 billion, a P/E ratio of 17.78, a PEG ratio of 2.49 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. On average, analysts expect that Canadian National Railway will post 5.54 earnings per share 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. Stockholders of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.20%. Canadian National Railway’s dividend payout ratio (DPR) is 39.26%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Susquehanna lowered their price objective on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Sanford C. Bernstein lowered their price target on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a report on Wednesday, October 9th. The Goldman Sachs Group cut their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays raised their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus price target of $125.18.

Canadian National Railway Company Profile

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.