Canadian National Railway (NYSE:CNI) Shares Sold by Weybosset Research & Management LLC

Weybosset Research & Management LLC lessened its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,190 shares of the transportation company’s stock after selling 2,353 shares during the period. Canadian National Railway makes up approximately 4.4% of Weybosset Research & Management LLC’s portfolio, making the stock its 10th biggest holding. Weybosset Research & Management LLC’s holdings in Canadian National Railway were worth $11,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PFG Investments LLC increased its holdings in shares of Canadian National Railway by 49.0% in the 1st quarter. PFG Investments LLC now owns 2,470 shares of the transportation company’s stock valued at $325,000 after purchasing an additional 812 shares in the last quarter. Drive Wealth Management LLC acquired a new position in Canadian National Railway during the first quarter worth about $311,000. Outlook Wealth Advisors LLC increased its holdings in Canadian National Railway by 28.0% in the first quarter. Outlook Wealth Advisors LLC now owns 2,107 shares of the transportation company’s stock valued at $278,000 after buying an additional 461 shares in the last quarter. Raymond James & Associates lifted its position in shares of Canadian National Railway by 6.4% during the 1st quarter. Raymond James & Associates now owns 248,409 shares of the transportation company’s stock valued at $32,718,000 after acquiring an additional 14,956 shares during the period. Finally, Waycross Investment Management Co boosted its stake in shares of Canadian National Railway by 18.4% during the 1st quarter. Waycross Investment Management Co now owns 6,317 shares of the transportation company’s stock worth $832,000 after acquiring an additional 981 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CNI shares. Barclays raised their price objective on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. Stephens reiterated an “equal weight” rating and issued a $140.00 price objective on shares of Canadian National Railway in a research report on Wednesday, April 24th. Jefferies Financial Group assumed coverage on shares of Canadian National Railway in a report on Monday, April 8th. They set a “hold” rating and a $130.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on shares of Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Eighteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $149.05.

Canadian National Railway Trading Down 0.9 %

CNI traded down $1.18 during trading on Monday, hitting $124.05. The company’s stock had a trading volume of 828,747 shares, compared to its average volume of 1,020,118. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The stock has a market cap of $79.23 billion, a PE ratio of 19.78, a PEG ratio of 2.19 and a beta of 0.88. The firm’s 50 day moving average price is $129.37 and its 200-day moving average price is $122.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46.

Canadian National Railway Cuts Dividend

The firm also recently disclosed 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 2.02%. The ex-dividend date is Friday, June 7th. Canadian National Railway’s dividend payout ratio is currently 40.03%.

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.