Tobam Cuts Stake in Canadian National Railway (NYSE:CNI)

Tobam decreased its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 32.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,704 shares of the transportation company’s stock after selling 813 shares during the period. Tobam’s holdings in Canadian National Railway were worth $166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CNI. Quintet Private Bank Europe S.A. purchased a new position in shares of Canadian National Railway in the fourth quarter valued at $25,000. Lee Danner & Bass Inc. acquired a new position in Canadian National Railway in the 4th quarter worth $30,000. Addison Advisors LLC boosted its position in Canadian National Railway by 80.2% in the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock valued at $32,000 after buying an additional 142 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of Canadian National Railway by 44.2% during the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 106 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Canadian National Railway during the first quarter valued at about $39,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CNI. Citigroup increased their price target on Canadian National Railway from $117.00 to $124.00 and gave the company a “buy” rating in a report on Monday, June 9th. Raymond James cut Canadian National Railway from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Stephens raised their price target on shares of Canadian National Railway from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Jefferies Financial Group cut their price target on shares of Canadian National Railway from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Stifel Nicolaus reduced their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.36.

Canadian National Railway Stock Down 1.4%

Shares of NYSE:CNI opened at $103.76 on Friday. The company’s fifty day moving average is $101.93 and its two-hundred day moving average is $101.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. Canadian National Railway has a 1-year low of $91.65 and a 1-year high of $123.96. The stock has a market capitalization of $65.21 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Thursday, May 1st. The transportation company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. Canadian National Railway’s quarterly revenue was up 3.6% on a year-over-year basis. Equities analysts anticipate that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently declared a dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a $0.8875 dividend. This is an increase from Canadian National Railway’s previous dividend of $0.29. The ex-dividend date of this dividend is Monday, June 9th. This represents a dividend yield of 2.47%. Canadian National Railway’s dividend payout ratio (DPR) is 50.29%.

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.