B. Riley Wealth Advisors Inc. reduced its stake in Canadian National Railways (NYSE:CNI – Free Report) (TSE:CNR) by 30.1% in the fourth quarter, according to the company’s latest Form 13F filed with the U.S. clarified in the documents submitted. Securities and Exchange Commission. The company owned 3,081 shares in the shipping company after selling 1,325 shares during the period. B. Riley Wealth Advisors’ shares in Canadian Railways were valued at $367,000 at the time of the most recent SEC filing.
Other hedge funds and other institutional investors have increased or decreased their stakes in the company recently. New England Capital Financial Advisors LLC purchased a new Canadian Rail position in the fourth quarter for a value of approximately $25,000. Armstrong Advisory Group Inc. acquired new shares in Canadian Railways stock valued at approximately $29,000 during the fourth quarter. CoreCap Advisors LLC acquired new shares of Canadian National Railways stock valued at approximately $29,000 during the fourth quarter. Accurate Wealth Management LLC acquired new shares of Canadian National Railways stock valued at approximately $41,000 during the fourth quarter. Finally, MassMutual Trust FSB ADV increased his holding of Canadian Railways shares by 42.6% during the fourth quarter. MassMutual Trust’s FSB ADV now owns 375 shares in the company, valued at $45,000, after purchasing an additional 112 shares last quarter. Institutional investors own 64.89% of the company’s shares.
Wall Street analyst speaks out
CNI has been the subject of several analyst reports recently. Susquehanna raised its price target on Canadian Rail to $116.00 from $114.00 in a report on Tuesday, April 25. In a report on Tuesday, April 25, Desjardins raised his price target on Canadian Rail stocks to C$180.00 from C$178.00. Wells Fargo & Co. raised its price target on Canadian Rail to $125.00 from $115.00 in a report on Tuesday, April 25. In a report on Monday, May 22, Citigroup downgraded Canadian Rail from a ‘buy’ rating to ‘neutral’ and lowered its price target to $125.00 from $139.00. Finally, Bank of America lowered its price target on Canadian Rail stock to $134.00 from $137.00 in its report on Monday, March 27. One equity research analyst rated the company a sell, nine a hold, and seven a buy. According to MarketBeat.com, Canadian Railways currently has an average rating of Hold and an average target price of $143.67.
Canadian Rail transactions up 1.1%
NYSE CNI shares opened Friday at $121.08. The company’s 50-day moving average is $117.91 and its 200-day moving average is $118.68. The stock has a market cap of $80.15 billion, a price/earnings multiple of 20.08, a P/E of 2.46, and a beta of 0.90. Canadian Railways has a 12-month low of $103.79 and a 12-month high of $129.89. The company has a quick ratio of 0.57, a current ratio of 0.74 and a debt to equity ratio of 0.69.
Canadian Railways (NYSE:CNI – Free Report) (TSE:CNR) last reported quarterly results on Monday, April 24th. The company reported earnings per share of $1.35 for the quarter, beating analyst consensus expectations of $1.26 by $0.09. The company posted $3.19 billion in revenue for the quarter, up from $3.15 billion expected by analysts. Canadian Railways’ net profit margin was 30.61% and return on equity was 25.00%. Equity research analysts expect Canadian Rail’s EPS to be 5.83 this year.
Canadian Railways Cuts Dividend
The company also recently announced a quarterly dividend, which was paid out on Friday, June 30. Record shareholders on Friday, June 9 were given a dividend of $0.5835 per share. The ex-dividend date was Thursday, June 8. This equates to a dividend of $2.33 for him on an annualized basis and a dividend yield of 1.93% for him. Canadian Railways payout ratio is 39.14%.
Overview of Canadian Railways
The National Railway Company of Canada, along with its subsidiaries, is engaged in rail and related transportation businesses. The company offers rail services, including equipment, custom brokerage services, transshipment and delivery, business development and real estate, and private vehicle storage services. It also includes multi-modal services such as temperature-controlled cargo, port partnerships, transhipment and distribution, logistics parks, customs brokerage, trucking and grain movement in containers.
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