ING Groep NV raised its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 22.4% during the first quarter, Holdings Channel reports. The firm owned 84,033 shares of the transportation company’s stock after buying an additional 15,400 shares during the period. ING Groep NV’s holdings in Canadian National Railway were worth $6,213,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. SRS Capital Advisors Inc. acquired a new stake in Canadian National Railway during the fourth quarter valued at approximately $137,000. Sowell Financial Services LLC acquired a new stake in Canadian National Railway during the fourth quarter valued at approximately $142,000. Salem Investment Counselors Inc. acquired a new stake in Canadian National Railway during the third quarter valued at approximately $166,000. Burt Wealth Advisors boosted its stake in Canadian National Railway by 1,713.2% in the first quarter. Burt Wealth Advisors now owns 2,611 shares of the transportation company’s stock valued at $193,000 after buying an additional 2,467 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Canadian National Railway by 3.4% in the first quarter. Quadrant Capital Group LLC now owns 2,844 shares of the transportation company’s stock valued at $200,000 after buying an additional 93 shares during the period. 55.16% of the stock is currently owned by institutional investors.
Canadian National Railway (NYSE:CNI) traded up 1.52% on Friday, hitting $74.64. The stock had a trading volume of 909,053 shares. Canadian National Railway has a 52-week low of $55.73 and a 52-week high of $76.10. The company has a market cap of $56.44 billion, a price-to-earnings ratio of 20.83 and a beta of 1.07. The company has a 50 day moving average price of $73.35 and a 200-day moving average price of $69.51.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be given a dividend of $0.3059 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.22 dividend on an annualized basis and a yield of 1.64%. Canadian National Railway’s dividend payout ratio is currently 31.73%.
Several brokerages have issued reports on CNI. Loop Capital reissued a “hold” rating on shares of Canadian National Railway in a research report on Saturday, March 25th. Credit Suisse Group AG reissued a “neutral” rating and issued a $72.00 target price (up from $70.00) on shares of Canadian National Railway in a research report on Monday, March 6th. Zacks Investment Research raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Friday, January 27th. Citigroup Inc raised their target price on Canadian National Railway from $66.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 25th. Finally, Barclays PLC dropped their target price on Canadian National Railway from $71.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $78.94.
Canadian National Railway Company Profile
Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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