Sanctuary Wealth Management L.L.C. Invests $56,000 in Canadian National Railway (NYSE:CNI)

Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 481 shares of the transportation company’s stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Personal Financial Services boosted its position in shares of Canadian National Railway by 4.2% during the 3rd quarter. First Personal Financial Services now owns 4,957 shares of the transportation company’s stock valued at $581,000 after acquiring an additional 200 shares during the last quarter. Assetmark Inc. grew its position in Canadian National Railway by 3.1% in the third quarter. Assetmark Inc. now owns 4,980 shares of the transportation company’s stock worth $583,000 after acquiring an additional 152 shares in the last quarter. Windward Capital Management Co. CA increased its position in shares of Canadian National Railway by 0.4% during the 3rd quarter. Windward Capital Management Co. CA now owns 183,646 shares of the transportation company’s stock valued at $21,514,000 after purchasing an additional 749 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of Canadian National Railway by 0.7% during the 3rd quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock valued at $642,828,000 after buying an additional 39,063 shares in the last quarter. Finally, Summit Global Investments bought a new stake in Canadian National Railway in the 3rd quarter worth approximately $636,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CNI shares. Barclays increased their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Stifel Nicolaus lifted their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Evercore ISI cut their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research report on Wednesday, October 23rd. Citigroup lifted their price objective on Canadian National Railway from $125.00 to $126.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group dropped their target price on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $125.18.

Canadian National Railway Stock Down 2.2 %

CNI traded down $2.54 on Friday, hitting $110.80. The company had a trading volume of 1,018,526 shares, compared to its average volume of 1,331,493. Canadian National Railway has a 52-week low of $107.54 and a 52-week high of $134.02. The stock has a fifty day simple moving average of $114.71 and a 200-day simple moving average of $118.23. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The firm has a market capitalization of $69.67 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.49 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 earnings per share. As a group, equities analysts expect that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio is presently 39.26%.

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.