Wesbanco Bank Inc. Takes Position in Canadian National Railway (NYSE:CNI)

Posted by on Mar 29th, 2023

Wesbanco Bank Inc. acquired a new stake in shares of Canadian National Railway (NYSE:CNI – Get Rating) (TSE:CNR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,787 shares of the transportation company’s stock, valued at approximately $213,000.

A number of other hedge funds have also made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its holdings in shares of Canadian National Railway by 7.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,687 shares of the transportation company’s stock valued at $438,000 after acquiring an additional 246 shares during the last quarter. BlackDiamond Wealth Management Inc. grew its holdings in Canadian National Railway by 6.8% in the 4th quarter. BlackDiamond Wealth Management Inc. now owns 3,905 shares of the transportation company’s stock valued at $475,000 after buying an additional 249 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in Canadian National Railway by 435.1% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,006 shares of the transportation company’s stock valued at $109,000 after buying an additional 818 shares during the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Canadian National Railway in the 4th quarter valued at approximately $29,000. Finally, Capricorn Fund Managers Ltd acquired a new stake in Canadian National Railway in the 4th quarter valued at approximately $749,000. Institutional investors and hedge funds own 86.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BMO Capital Markets lowered their target price on Canadian National Railway from C$185.00 to C$180.00 in a report on Wednesday, January 25th. Credit Suisse Group lowered their target price on Canadian National Railway from $133.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, January 25th. Bank of America decreased their price objective on Canadian National Railway from $137.00 to $134.00 in a report on Monday. CIBC decreased their price objective on Canadian National Railway from C$181.00 to C$175.00 in a report on Wednesday, January 25th. Finally, Barclays lifted their price objective on Canadian National Railway from $118.00 to $127.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $142.00.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $114.94 on Wednesday. The firm has a market cap of $76.80 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 1.98 and a beta of 0.91. The stock’s 50-day moving average is $117.53 and its 200-day moving average is $118.57. Canadian National Railway has a one year low of $103.79 and a one year high of $137.19. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.84 and a quick ratio of 0.66.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be issued a $0.5906 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.06%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, March 9th. Canadian National Railway’s payout ratio is 40.11%.

About Canadian National Railway

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Canadian National Railway Co engages in rail and related transportation business. Its services include rail, intermodal, trucking, supply chain services, business development and maps and network. Its offers their services in automotive, coal, fertilizer, food and beverages, forest products, dimensional loads, grain, metals and minerals and petroleum and chemicals industries.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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