InterOcean Capital Group LLC Lowers Stock Position in Canadian National Railway (NYSE:CNI)

InterOcean Capital Group LLC lowered its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 11.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,789 shares of the transportation company’s stock after selling 354 shares during the period. InterOcean Capital Group LLC’s holdings in Canadian National Railway were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CNI. GQG Partners LLC raised its position in shares of Canadian National Railway by 0.8% in the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock valued at $1,505,000 after purchasing an additional 93 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Canadian National Railway by 17.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 324,334 shares of the transportation company’s stock valued at $42,700,000 after purchasing an additional 49,297 shares during the period. Lake Street Advisors Group LLC acquired a new position in Canadian National Railway in the 1st quarter worth about $954,000. Bessemer Group Inc. raised its holdings in shares of Canadian National Railway by 290.2% during the 1st quarter. Bessemer Group Inc. now owns 36,746 shares of the transportation company’s stock valued at $4,839,000 after purchasing an additional 27,328 shares in the last quarter. Finally, Promethos Capital LLC increased its holdings in shares of Canadian National Railway by 11.3% during the 1st quarter. Promethos Capital LLC now owns 64,926 shares of the transportation company’s stock valued at $8,551,000 after acquiring an additional 6,578 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on CNI shares. Susquehanna cut their target price on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Bank of America upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday. Finally, Wells Fargo & Company cut their price target on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Wednesday. Eighteen research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Canadian National Railway currently has an average rating of “Hold” and an average price target of $146.08.

Canadian National Railway Stock Down 2.1 %

Shares of NYSE:CNI traded down $2.38 during trading on Thursday, hitting $113.42. The stock had a trading volume of 2,027,000 shares, compared to its average volume of 1,086,443. 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. The company has a market capitalization of $71.73 billion, a PE ratio of 18.09, a PEG ratio of 2.28 and a beta of 0.89. The firm’s fifty day moving average is $121.78 and its 200 day moving average is $125.63.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.32% and a net margin of 32.00%. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. Analysts anticipate that Canadian National Railway will post 5.84 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a $0.614 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.46 annualized dividend and a dividend yield of 2.17%. Canadian National Railway’s payout ratio is 39.55%.

About Canadian National Railway

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.