Simplicity Wealth LLC Purchases New Shares in Canadian National Railway (NYSE:CNI)

Simplicity Wealth LLC purchased a new position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,053 shares of the transportation company's stock, valued at approximately $797,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avantax Advisory Services Inc. boosted its stake in Canadian National Railway by 33.5% in the third quarter. Avantax Advisory Services Inc. now owns 11,998 shares of the transportation company's stock valued at $1,300,000 after acquiring an additional 3,011 shares during the last quarter. Spire Wealth Management increased its position in Canadian National Railway by 5.0% in the third quarter. Spire Wealth Management now owns 4,602 shares of the transportation company's stock worth $498,000 after buying an additional 219 shares during the last quarter. YCG LLC raised its stake in shares of Canadian National Railway by 6.0% in the fourth quarter. YCG LLC now owns 250,085 shares of the transportation company's stock valued at $31,418,000 after buying an additional 14,249 shares during the period. Manning & Napier Group LLC lifted its position in shares of Canadian National Railway by 7.5% during the 4th quarter. Manning & Napier Group LLC now owns 669,988 shares of the transportation company's stock valued at $84,171,000 after buying an additional 46,517 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new position in shares of Canadian National Railway during the 3rd quarter worth $1,266,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Up 0.7 %

NYSE:CNI traded up $0.90 during trading hours on Monday, reaching $128.24. The company's stock had a trading volume of 635,056 shares, compared to its average volume of 1,001,912. The firm has a 50-day simple moving average of $128.07 and a 200-day simple moving average of $124.64. The firm has a market capitalization of $81.65 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 2.23 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.16 billion. Research analysts expect that Canadian National Railway will post 5.9 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway's dividend payout ratio is presently 39.71%.

Wall Street Analysts Forecast Growth

CNI has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on shares of Canadian National Railway from $121.00 to $134.00 and gave the company a "hold" rating in a report on Friday, April 12th. Susquehanna boosted their target price on shares of Canadian National Railway from $140.00 to $142.00 and gave the company a "neutral" rating in a report on Wednesday, April 24th. Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a report on Wednesday, April 24th. Wells Fargo & Company boosted their price objective on Canadian National Railway from $110.00 to $125.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 24th. Finally, Citigroup raised their target price on Canadian National Railway from $121.00 to $128.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 24th. Eighteen analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of "Hold" and an average target price of $149.05.

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.

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