International Assets Investment Management LLC Invests $47.98 Million in Canadian National Railway (NYSE:CNI)

International Assets Investment Management LLC acquired a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 38,192 shares of the transportation company’s stock, valued at approximately $47,980,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. JFS Wealth Advisors LLC raised its holdings in shares of Canadian National Railway by 241.1% during the third quarter. JFS Wealth Advisors LLC now owns 324 shares of the transportation company’s stock valued at $35,000 after buying an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Canadian National Railway by 121.0% during the third quarter. EverSource Wealth Advisors LLC now owns 369 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 202 shares during the period. Rational Advisors LLC bought a new stake in shares of Canadian National Railway during the third quarter valued at about $41,000. Crewe Advisors LLC bought a new stake in shares of Canadian National Railway during the third quarter valued at about $43,000. Finally, Clearstead Advisors LLC lifted its holdings in Canadian National Railway by 100.0% in the third quarter. Clearstead Advisors LLC now owns 600 shares of the transportation company’s stock worth $65,000 after purchasing an additional 300 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

CNI opened at $123.54 on Friday. The firm has a market capitalization of $78.90 billion, a P/E ratio of 19.70, a PEG ratio of 2.12 and a beta of 0.89. The stock has a fifty day moving average of $128.89 and a 200-day moving average of $122.72. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s dividend payout ratio is currently 40.03%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, April 24th. Stifel Nicolaus boosted their target price on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Susquehanna Bancshares increased their price target on Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a research note on Monday, January 8th. Stephens reissued an “equal weight” rating and issued a $140.00 price objective on shares of Canadian National Railway in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company raised their target price on Canadian National Railway from $110.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Seventeen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $149.05.

Canadian National Railway Company 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.