Smithbridge Asset Management Inc. DE Has $2.57 Million Holdings in Canadian National Railway Company $CNI

Smithbridge Asset Management Inc. DE cut its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 55.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,997 shares of the transportation company’s stock after selling 30,903 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Canadian National Railway were worth $2,569,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. High Point Wealth Management LLC bought a new stake in shares of Canadian National Railway in the fourth quarter valued at approximately $27,000. MidFirst Bank acquired a new stake in Canadian National Railway during the fourth quarter worth approximately $31,000. Curio Wealth LLC bought a new position in Canadian National Railway during the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd increased its stake in Canadian National Railway by 378.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after acquiring an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC acquired a new position in Canadian National Railway in the 1st quarter valued at $37,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Up 0.6%

Shares of CNI opened at $119.92 on Thursday. The firm has a 50 day simple moving average of $115.54 and a two-hundred day simple moving average of $107.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. Canadian National Railway Company has a one year low of $90.74 and a one year high of $122.48. The company has a market cap of $72.75 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.24 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the business posted $1.85 EPS. The company’s revenue was down .5% compared to the same quarter last year. Research analysts forecast that Canadian National Railway Company will post 5.75 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, June 9th. Canadian National Railway’s dividend payout ratio is currently 48.55%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CNI shares. Sanford C. Bernstein upped their target price on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. Citigroup raised their price target on Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Evercore raised Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price target for the company in a research note on Thursday, June 25th. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a research report on Thursday, June 25th. Finally, Barclays increased their price objective on shares of Canadian National Railway from $99.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 25th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway currently has an average rating of “Moderate Buy” and a consensus price target of $126.12.

Canadian National Railway Company 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.