Spire Wealth Management Cuts Stock Holdings in Canadian National Railway Company (NYSE:CNI)

Spire Wealth Management lessened its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 69.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,224 shares of the transportation company's stock after selling 2,849 shares during the quarter. Spire Wealth Management's holdings in Canadian National Railway were worth $119,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. SVB Wealth LLC acquired a new stake in shares of Canadian National Railway in the 4th quarter worth $339,000. Jones Financial Companies Lllp boosted its position in shares of Canadian National Railway by 6.1% in the 4th quarter. Jones Financial Companies Lllp now owns 5,311 shares of the transportation company's stock worth $539,000 after purchasing an additional 307 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian National Railway in the 4th quarter worth $75,000. LGT Group Foundation boosted its position in shares of Canadian National Railway by 2.3% in the 4th quarter. LGT Group Foundation now owns 88,693 shares of the transportation company's stock worth $8,995,000 after purchasing an additional 2,005 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. acquired a new stake in shares of Canadian National Railway in the 4th quarter worth $25,000. Institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CNI shares. Jefferies Financial Group lowered their price objective on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Stephens raised their target price on Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Stifel Nicolaus reduced their target price on Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Bank of America raised their target price on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Finally, Barclays reduced their target price on Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of "Moderate Buy" and an average target price of $120.52.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock traded up $0.15 on Friday, hitting $106.75. 761,838 shares of the company were exchanged, compared to its average volume of 1,325,899. The stock has a market capitalization of $67.02 billion, a price-to-earnings ratio of 20.81, a price-to-earnings-growth ratio of 1.99 and a beta of 0.97. The company has a 50-day moving average price of $103.44 and a 200 day moving average price of $101.52. Canadian National Railway Company has a 1-year low of $91.65 and a 1-year high of $123.96. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 0.88.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.29% and a net margin of 26.19%. The firm had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $4.38 billion. During the same period in the prior year, the firm posted $1.72 earnings per share. The firm's quarterly revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a dividend, which was paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th were given a $0.8875 dividend. This is a positive change from Canadian National Railway's previous dividend of $0.29. The ex-dividend date was Monday, June 9th. This represents a yield of 2.47%. Canadian National Railway's payout ratio is presently 50.49%.

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.