Smithbridge Asset Management Inc. DE Purchases Shares of 30,947 Canadian National Railway (NYSE:CNI)

Smithbridge Asset Management Inc. DE bought a new position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 30,947 shares of the transportation company's stock, valued at approximately $3,016,000.

Other large investors also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. purchased a new position in Canadian National Railway during the 4th quarter valued at $25,000. Lee Danner & Bass Inc. purchased a new position in Canadian National Railway in the 4th quarter worth about $30,000. Addison Advisors LLC increased its stake in Canadian National Railway by 80.2% in the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company's stock worth $32,000 after buying an additional 142 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in Canadian National Railway by 44.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after buying an additional 106 shares in the last quarter. Finally, CX Institutional purchased a new stake in Canadian National Railway in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CNI. Bank of America raised their target price on shares of Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen raised Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Royal Bank of Canada reiterated an "outperform" rating and issued a $163.00 target price on shares of Canadian National Railway in a report on Thursday, June 5th. Jefferies Financial Group lowered their target price on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Barclays lowered their target price on Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $120.36.

Canadian National Railway Stock Down 1.4%

CNI stock traded down $1.49 during trading on Friday, reaching $103.76. 1,046,949 shares of the company traded hands, compared to its average volume of 1,338,879. Canadian National Railway has a 12 month low of $91.65 and a 12 month high of $123.96. The business has a 50 day simple moving average of $101.71 and a 200 day simple moving average of $101.99. The company has a market capitalization of $65.21 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.03. Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same quarter last year, the company earned $1.72 earnings per share. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be given a dividend of $0.8875 per share. The ex-dividend date is Monday, June 9th. This represents a yield of 2.47%. This is an increase from Canadian National Railway's previous dividend of $0.29. Canadian National Railway's dividend payout ratio (DPR) is presently 50.29%.

About Canadian National Railway

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.