Harrison Street Private Wealth LLC Purchases New Position in Canadian National Railway Company $CNI

by · The Markets Daily

Harrison Street Private Wealth LLC acquired a new position in shares of Canadian National Railway Company (NYSE:CNI – Free Report) (TSE:CNR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 34,340 shares of the transportation company’s stock, valued at approximately $3,523,000. Canadian National Railway makes up approximately 4.7% of Harrison Street Private Wealth LLC’s investment portfolio, making the stock its 12th biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. High Point Wealth Management LLC acquired a new stake in Canadian National Railway in the fourth quarter valued at approximately $27,000. Curio Wealth LLC acquired a new position in shares of Canadian National Railway during the fourth quarter worth $31,000. MidFirst Bank bought a new position in shares of Canadian National Railway in the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Canadian National Railway by 378.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 280 shares during the last quarter. Finally, MBM Wealth Consultants LLC acquired a new stake in shares of Canadian National Railway during the 1st quarter valued at $37,000. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CNI. Sanford C. Bernstein upped their target price on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Citigroup lifted their price target on Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. National Bank Financial set a $124.00 price target on Canadian National Railway in a report on Thursday, June 25th. Royal Bank Of Canada upped their price objective on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Finally, Evercore upgraded shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price objective for the company in a report on Thursday, June 25th. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.12.

Get Our Latest Analysis on Canadian National Railway

Canadian National Railway Stock Up 1.4%

Shares of NYSE:CNI opened at $121.51 on Friday. The firm has a market cap of $73.72 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.25 and a beta of 0.96. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $122.48. The business has a fifty day simple moving average of $115.76 and a 200 day simple moving average of $107.68.

Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, meeting the consensus estimate of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The company had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the firm posted $1.85 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Analysts predict that Canadian National Railway Company will post 5.75 earnings per share for the current year.

Canadian National Railway Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 9th. Canadian National Railway’s dividend payout ratio is currently 48.55%.

About Canadian National Railway

(Free Report)

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.

Further Reading

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