In recent news, Burgundy Asset Management Ltd. has reported that it has reduced its position in Canadian National Railway (CNI) by 5%. The company has been managing the transportation industry giant’s investments and has now sold 29,287 CNI shares, bringing the total down to 552,707 shares. According to its most recent report submitted to the Securities and Exchange Commission (SEC), these shares are worth $65,636,000.
Canadian National Railway Co is known for their excellence in rail transportation that caters to various essential industries like automotive, coal, forest products and more. They also provide intermodal and trucking services along with business development support to their clients. Along with offering an impressive suite of services, it also recently announced a quarterly dividend pay-out on Friday the 30th of June. As per reports, its investors of record on Friday the 9th of June will receive a dividend payout of $0.5835 per share, which amounts to an annual dividend pay-out of $2.33 per share with a yield of 1.95%.
As for the ex-dividend date of this pay-out is Thursday the 8th of June. It’s DPR or Dividend Payout Ratio presently stands at just under 38%, displaying stability and longevity when it comes to returns’ payment.
All in all Canadian National Railway Co remains among one of Canada’s finest home-grown businesses who look after their clients with detailed attention while providing world-class transportation infrastructure to multiple sectors and numerous communities worldwide.
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Canadian National Railway: Recent Activity and Future Prospects Analyzed
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”CNI” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Canadian National Railway: A Look at the Company’s Recent Activity and Future Outlook
Canadian National Railway (CNI) has been making headlines lately for its changes in shareholder positions and its recent stock activity. Several hedge funds and institutional investors, including New England Capital Financial Advisors, Armstrong Advisory Group Inc., Accurate Wealth Management LLC, Massmutual Trust Co. FSB ADV, and AdvisorNet Financial Inc., have made changes to their positions in the company. These firms have acquired new stakes or grown their existing holdings in the transportation giant.
Despite these recent moves, CNI’s stock continues to fluctuate. As of May 22, 2023, the company’s stock traded up $0.21 during midday trading on Friday, hitting $119.47 with a trading volume of 615,167 shares – lower than its average volume of 1,118,189 shares. The stock’s current market capitalization is $79.49 billion with a P/E ratio of 19.78 and a beta of 0.91.
Several analysts have recently issued reports on CNI shares as well. Most recently, Argus reduced their price objective for CNI from $155 to $140 in a research report on April 26th; however, Royal Bank of Canada upgraded the company from “sector perform” to “outperform” in a research report on April 6th.
CNI’s financials are worth noting too as they reflect where the company stands at this point in time and what could be expected from it moving forward. It has a debt-to-equity ratio of 0.69 with a current ratio of 0.74 and a quick ratio of 0.57 – factors that can play into an investor’s decision-making process.
With all these statistics in mind, one may wonder about CNI’s future outlook. Currently, Bloomberg.com shows that investment analysts have given CNI a consensus rating of “Hold” and a consensus price target of $143.61; however, the future is always uncertain, and market conditions can change in an instant. Industry professionals will be keeping a keen eye on Canadian National Railway to see how it fares moving forward.
