First Trust Direct Indexing L.P. Has $1.17 Million Holdings in Canadian National Railway (NYSE:CNI)

First Trust Direct Indexing L.P. lifted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,962 shares of the transportation company’s stock after buying an additional 268 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Canadian National Railway were worth $1,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GQG Partners LLC grew its stake in shares of Canadian National Railway by 0.8% in the first quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock valued at $1,505,000 after buying an additional 93 shares in the last quarter. Choreo LLC grew its stake in shares of 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 buying an additional 97 shares in the last quarter. Grove Bank & Trust grew its stake in shares of Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after buying an additional 97 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of 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 in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of 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 valued at $1,105,000 after buying an additional 102 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Down 1.6 %

CNI stock opened at $108.02 on Friday. The company has a market cap of $67.92 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88. The business has a 50-day simple moving average of $115.59 and a 200 day simple moving average of $118.96. Canadian National Railway has a 52 week low of $105.17 and a 52 week high of $134.02. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. Canadian National Railway’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Sell-side analysts anticipate that Canadian National Railway will post 5.54 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. Shareholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a yield of 2.26%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is 39.26%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CNI. Sanford C. Bernstein decreased their target price on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Evercore ISI reduced their price objective 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. Stifel Nicolaus lifted their price objective 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. Finally, Stephens reaffirmed an “equal weight” rating and set a $116.00 price objective on shares of Canadian National Railway in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Canadian National Railway currently has a consensus rating of “Hold” and a consensus target price of $125.18.

Canadian National Railway Profile

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.