Canadian National Railway Company $CNI Stock: Cardinal Capital Management Inc. Trims Stake

Cardinal Capital Management Inc. cut its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.1% during the third quarter, Holdings Channel reports. The fund owned 1,190,268 shares of the transportation company’s stock after selling 63,984 shares during the quarter. Canadian National Railway comprises about 3.2% of Cardinal Capital Management Inc.’s holdings, making the stock its 11th biggest holding. Cardinal Capital Management Inc.’s holdings in Canadian National Railway were worth $142,047,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Lazard Asset Management LLC raised its stake in Canadian National Railway by 2.0% in the 1st quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company’s stock valued at $934,488,000 after acquiring an additional 173,894 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in Canadian National Railway by 2.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 4,297,955 shares of the transportation company’s stock valued at $514,643,000 after purchasing an additional 116,530 shares during the last quarter. Canoe Financial LP boosted its position in Canadian National Railway by 17.2% during the first quarter. Canoe Financial LP now owns 3,426,466 shares of the transportation company’s stock worth $352,527,000 after purchasing an additional 502,424 shares during the period. Swiss National Bank boosted its position in Canadian National Railway by 26.3% during the first quarter. Swiss National Bank now owns 1,761,000 shares of the transportation company’s stock worth $180,986,000 after purchasing an additional 367,100 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Canadian National Railway by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,382,499 shares of the transportation company’s stock valued at $142,066,000 after purchasing an additional 101,861 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $121.85 on Friday. The firm has a market cap of $73.42 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 2.16 and a beta of 0.96. The company has a current ratio of 0.87, a quick ratio of 0.61 and a debt-to-equity ratio of 0.99. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $131.55. The business’s 50 day moving average is $122.33 and its 200-day moving average is $119.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $1.87 EPS. Equities research analysts predict that Canadian National Railway Company will post 5.80 earnings per share for the current year.

Canadian National Railway Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th were given a dividend of C$0.92 per share. The ex-dividend date was Tuesday, September 8th. This represents a $3.66 annualized dividend and a yield of 3.0%. Canadian National Railway’s dividend payout ratio (DPR) is presently 46.10%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CNI. Weiss Ratings raised shares of Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Evercore upgraded shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $108.00 to $124.00 in a research note on Thursday, June 25th. Citigroup reduced their target price on shares of Canadian National Railway from $151.00 to $143.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. Stephens upgraded shares of Canadian National Railway to a “hold” rating in a research note on Wednesday, July 8th. Finally, National Bank Financial set a $124.00 price target on shares of Canadian National Railway in a research note on Thursday, June 25th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.49.

Canadian National Railway Profile

Canadian National Railway Company (NYSE:CNI) is a transportation and logistics company that operates a major freight rail network in Canada and the United States. Its network connects the Atlantic, Pacific and Gulf coasts, serving ports, industrial centers, agricultural regions and major population markets.

CN transports a broad range of commodities and manufactured goods, including forest products, grain and fertilizers, coal, metals and minerals, petroleum and chemicals, automotive products, and consumer goods.