Hillsdale Investment Management Inc. cut its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 177,335 shares of the transportation company’s stock after selling 3,200 shares during the period. Canadian National Railway comprises about 1.6% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 11th largest position. Hillsdale Investment Management Inc.’s holdings in Canadian National Railway were worth $16,397,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brand Asset Management Group Inc. acquired a new stake in Canadian National Railway in the first quarter worth $36,000. Tortoise Investment Management LLC acquired a new stake in Canadian National Railway in the first quarter worth $36,000. CWM LLC raised its holdings in Canadian National Railway by 96.0% in the second quarter. CWM LLC now owns 437 shares of the transportation company’s stock worth $40,000 after purchasing an additional 214 shares during the period. Icon Wealth Partners LLC acquired a new stake in Canadian National Railway in the first quarter worth $41,000. Finally, Centersquare Investment Management LLC acquired a new stake in Canadian National Railway in the first quarter worth $49,000. Institutional investors own 54.39% of the company’s stock.
Shares of NYSE:CNI traded up $2.04 during midday trading on Friday, reaching $92.48. 884,100 shares of the company were exchanged, compared to its average volume of 870,708. Canadian National Railway has a fifty-two week low of $70.36 and a fifty-two week high of $96.49. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $93.42 and a two-hundred day simple moving average of $90.43. The firm has a market cap of $65.53 billion, a PE ratio of 22.23, a P/E/G ratio of 1.79 and a beta of 1.03.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.47. Canadian National Railway had a net margin of 29.50% and a return on equity of 24.15%. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the business earned $1.51 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. As a group, analysts forecast that Canadian National Railway will post 4.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a $0.411 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s payout ratio is presently 38.94%.
A number of brokerages recently commented on CNI. Stifel Nicolaus raised their price objective on shares of Canadian National Railway from $87.00 to $90.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Royal Bank of Canada lowered shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating and set a $92.00 price objective on the stock. in a report on Tuesday, April 30th. Goldman Sachs Group began coverage on shares of Canadian National Railway in a report on Wednesday, July 10th. They set a “neutral” rating and a $97.00 price objective on the stock. Credit Suisse Group raised their price objective on shares of Canadian National Railway from $101.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, ValuEngine lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Canadian National Railway currently has an average rating of “Hold” and a consensus price target of $98.78.
Canadian National Railway Profile
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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