UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in Canadian National Railway (NYSE:CNI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 930,050 shares of the transportation company’s stock after selling 68,389 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Canadian National Railway were worth $108,955,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Canadian National Railway during the 2nd quarter valued at $26,000. Addison Advisors LLC lifted its holdings in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after buying an additional 148 shares in the last quarter. Fortitude Family Office LLC boosted its position in Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares during the period. Coastline Trust Co bought a new position in Canadian National Railway in the 3rd quarter worth about $34,000. Finally, ORG Partners LLC bought a new position in Canadian National Railway in the second quarter worth approximately $34,000. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNI. Benchmark restated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. The Goldman Sachs Group reduced their price target on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Sanford C. Bernstein decreased their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Finally, Evercore ISI cut their price objective on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $125.86.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $111.69 on Monday. The stock has a market capitalization of $70.34 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The firm’s 50 day simple moving average is $112.39 and its 200-day simple moving average is $116.57. Canadian National Railway has a 12 month low of $105.28 and a 12 month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the company posted $1.26 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Analysts expect that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.19%. Canadian National Railway’s dividend payout ratio (DPR) is 39.90%.

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.