Fisher Asset Management LLC increased its stake in shares of Canadian National Railway Company (NYSE:CNI – Free Report) (TSE:CNR) by 10.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,279,778 shares of the transportation company’s stock after acquiring an additional 216,963 shares during the period. Fisher Asset Management LLC owned about 0.37% of Canadian National Railway worth $225,356,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also bought and sold shares of CNI. AQR Capital Management LLC bought a new stake in Canadian National Railway during the first quarter worth about $311,000. Focus Partners Wealth raised its holdings in Canadian National Railway by 11.1% during the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after acquiring an additional 1,146 shares in the last quarter. Schnieders Capital Management LLC. bought a new stake in Canadian National Railway during the second quarter worth about $202,000. EverSource Wealth Advisors LLC raised its stake in Canadian National Railway by 52.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock valued at $116,000 after buying an additional 383 shares during the period. Finally, Baird Financial Group Inc. raised its stake in Canadian National Railway by 2.9% in the second quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock valued at $1,778,000 after buying an additional 474 shares during the period. Institutional investors own 80.74% of the company’s stock.
Canadian National Railway Price Performance
Canadian National Railway stock opened at $114.24 on Tuesday. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $115.80. The stock’s 50 day moving average is $108.41 and its 200-day moving average is $103.21. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $69.43 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 2.19 and a beta of 0.95.
Canadian National Railway Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $3.66 annualized dividend and a dividend yield of 3.2%. Canadian National Railway’s dividend payout ratio is presently 48.73%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on CNI shares. Stephens dropped their price objective on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, February 2nd. UBS Group lowered Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Barclays upped their price objective on Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada upped their price objective on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, Citigroup upped their price objective on Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $122.04.
Check Out Our Latest Report on CNI
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.
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