Rede Wealth LLC Buys Shares of 5,117 Canadian National Railway Company $CNI

Rede Wealth LLC bought a new position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,117 shares of the transportation company’s stock, valued at approximately $483,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arkadios Wealth Advisors lifted its stake in shares of Canadian National Railway by 28.9% in the 3rd quarter. Arkadios Wealth Advisors now owns 5,215 shares of the transportation company’s stock valued at $492,000 after purchasing an additional 1,169 shares during the last quarter. Nordwand Advisors LLC raised its holdings in Canadian National Railway by 154.9% during the third quarter. Nordwand Advisors LLC now owns 11,725 shares of the transportation company’s stock valued at $1,106,000 after buying an additional 7,125 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Canadian National Railway by 12.0% in the third quarter. Maryland State Retirement & Pension System now owns 58,426 shares of the transportation company’s stock worth $5,508,000 after buying an additional 6,272 shares during the last quarter. Gold Investment Management Ltd. boosted its stake in shares of Canadian National Railway by 4.9% during the 3rd quarter. Gold Investment Management Ltd. now owns 53,492 shares of the transportation company’s stock worth $5,045,000 after acquiring an additional 2,476 shares in the last quarter. Finally, Howland Capital Management LLC boosted its stake in shares of Canadian National Railway by 23.0% during the 3rd quarter. Howland Capital Management LLC now owns 3,320 shares of the transportation company’s stock worth $313,000 after acquiring an additional 620 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CNI shares. Barclays reduced their target price on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a report on Thursday, October 2nd. Royal Bank Of Canada boosted their price objective on shares of Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Susquehanna upped their price objective on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a report on Monday, November 3rd. Evercore ISI lifted their target price on shares of Canadian National Railway from $98.00 to $103.00 and gave the stock an “in-line” rating in a report on Monday, November 3rd. Finally, Wall Street Zen raised shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.36.

Canadian National Railway Trading Down 0.1%

Shares of CNI stock opened at $98.59 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 0.92. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $108.75. The firm’s fifty day simple moving average is $96.07 and its 200 day simple moving average is $97.00. The firm has a market capitalization of $60.67 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 2.22 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.05. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $4.15 billion. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business posted $1.72 EPS. As a group, sell-side analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be issued a $0.8875 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $3.55 annualized dividend and a yield of 3.6%. Canadian National Railway’s payout ratio is currently 48.01%.

Canadian National Railway Profile

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.