Ritholtz Wealth Management Trims Position in Canadian National Railway (NYSE:CNI)

Ritholtz Wealth Management decreased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 37.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,796 shares of the transportation company’s stock after selling 10,217 shares during the quarter. Ritholtz Wealth Management’s holdings in Canadian National Railway were worth $1,968,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new stake in Canadian National Railway in the second quarter valued at approximately $134,096,000. Koshinski Asset Management Inc. bought a new position in shares of Canadian National Railway during the first quarter valued at approximately $627,000. Virtu Financial LLC bought a new position in shares of Canadian National Railway during the fourth quarter valued at approximately $816,000. Mediolanum International Funds Ltd bought a new position in shares of Canadian National Railway during the first quarter valued at approximately $4,451,000. Finally, Sumitomo Life Insurance Co. bought a new position in shares of Canadian National Railway during the second quarter valued at approximately $1,321,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

CNI has been the subject of a number of recent analyst reports. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. The Goldman Sachs Group cut their target price on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. Finally, Evercore ISI cut their target price on Canadian National Railway from $128.00 to $119.00 and set an “in-line” rating on the stock in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $126.02.

Canadian National Railway Stock Performance

NYSE:CNI opened at $115.84 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The stock has a 50-day moving average price of $115.54 and a 200 day moving average price of $120.59. The stock has a market capitalization of $72.95 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.55 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.09). The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. Equities research analysts forecast that Canadian National Railway will post 5.54 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a $0.614 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is 39.26%.

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.