SkyView Investment Advisors LLC buys 3,702 shares of Canadian National Railway (NYSE:CNI)

VaselineSeptember 29, 2024

0 4 minutes read

SkyView Investment Advisors LLC boosted its holdings in Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) by 10.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 38,315 shares of the transportation company’s stock after buying an additional 3,702 shares during the period. Canadian National Railway makes up about 0.8% of SkyView Investment Advisors LLC’s investment portfolio, making the stock its 15th biggest position. SkyView Investment Advisors LLC’s holdings in Canadian National Railway were worth $4,526,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. GQG Partners LLC boosted its stake in Canadian National Railway by 0.8% in the first quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock worth $1,505,000 after acquiring an additional 93 shares in the last quarter. Choreo LLC lifted its position in Canadian National Railway by 1.5% in the first quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock valued at $846,000 after purchasing an additional 97 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Canadian National Railway by 2.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after buying an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in Canadian National Railway by 1.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock worth $1,105,000 after purchasing an additional 102 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Canadian National Railway by 19.3% in the second quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock worth $77,000 after buying an additional 105 shares during the period. 80.74% of the shares are currently owned by institutional investors.

The Wall Street analyst weighs in

Several equities research analysts have recently issued reports on CNI shares. Wells Fargo & Company lowered their target price on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Stifel Nicolaus decreased their price objective on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Stephens cut their price target on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Evercore ISI cut their price target on Canadian National Railway from $128.00 to $119.00 and set an “in-line” rating for the company in a research note on Wednesday. Finally, National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Sixteen investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $132.76, based on data from MarketBeat.com.

Want more great investment ideas?

Check out our latest analysis of Canadian National Railways

Canadian National Railways Trading Down 0.3%

Shares of CNI stock opened at $116.43 on Friday. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48, and a current ratio of 0.63. The company’s fifty-day moving average is $115.71, and its 200-day moving average is $121.74. The stock has a market cap of $73.32 billion, a PE ratio of 18.57, a P/E/G ratio of 2.50 and a beta of 0.88.

Canadian National Railway (NYSE:CNI – Get Your Free Report ) (TSE:CNR) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. In the same quarter last year, the company posted earnings per share of $1.31. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. sell-side analysts expect that Canadian National Railway will post 5.58 earnings per share for the current fiscal year.

Canadian National Railway cuts dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a dividend of $0.614 per share. This represents an annualized dividend of $2.46 and a dividend yield of 2.11%. The ex-dividend date was Friday, September 6. Canadian National Railway’s dividend payout ratio is currently 39.08%.

Profile of Canadian National Railways

(Free report)

Canadian National Railway Company, together with its subsidiaries, engages in rail, intermodal, trucking and shipping and logistics businesses in Canada and the United States. The company provides rail services, which include equipment, custom brokerage, transfer and distribution, business and real estate development, and private car storage services; and intermodal services such as temperature-controlled cargo, port partnerships and logistics parks.