Sowell Financial Services LLC Takes $449,000 Position in Canadian National Railway Company (NYSE:CNI)

Sowell Financial Services LLC acquired a new stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,602 shares of the transportation company's stock, valued at approximately $449,000.

Other hedge funds have also recently made changes to their positions in the company. Polar Asset Management Partners Inc. raised its holdings in shares of Canadian National Railway by 233.3% during the fourth quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company's stock valued at $2,537,000 after purchasing an additional 17,500 shares during the last quarter. Cypress Asset Management Inc. TX bought a new stake in Canadian National Railway during the fourth quarter valued at approximately $875,000. SG Americas Securities LLC grew its position in Canadian National Railway by 60.6% during the first quarter. SG Americas Securities LLC now owns 9,729 shares of the transportation company's stock valued at $948,000 after buying an additional 3,671 shares during the period. Focus Partners Wealth grew its position in Canadian National Railway by 6.7% during the fourth quarter. Focus Partners Wealth now owns 10,368 shares of the transportation company's stock valued at $1,078,000 after buying an additional 655 shares during the period. Finally, Ritholtz Wealth Management grew its position in Canadian National Railway by 23.3% during the first quarter. Ritholtz Wealth Management now owns 10,957 shares of the transportation company's stock valued at $1,068,000 after buying an additional 2,068 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $101.89 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.43 and a current ratio of 0.62. The firm has a fifty day moving average price of $102.48 and a 200 day moving average price of $101.66. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $123.96. The firm has a market cap of $63.98 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 1.90 and a beta of 0.98.

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

Canadian National Railway Increases Dividend

The business also recently announced 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. This is a positive change from Canadian National Railway's previous dividend of $0.29. The ex-dividend date is Monday, June 9th. This represents a dividend yield of 2.47%. Canadian National Railway's dividend payout ratio is currently 50.49%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNI. Barclays cut their target price on shares of Canadian National Railway from $104.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Citigroup boosted their target price on shares of Canadian National Railway from $117.00 to $124.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Raymond James Financial lowered shares of Canadian National Railway from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Bank of America boosted their target price on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Stifel Nicolaus cut their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Canadian National Railway presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.36.

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.

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