Canadian National Railway Company $CNI Stock: Value Partners Investments Inc. Lowers Stake

Value Partners Investments Inc. cut its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 23.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 467,268 shares of the transportation company’s stock after selling 140,380 shares during the period. Canadian National Railway comprises 3.8% of Value Partners Investments Inc.’s holdings, making the stock its 11th largest holding. Value Partners Investments Inc.’s holdings in Canadian National Railway were worth $55,790,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNI. Two Sigma Securities LLC boosted its position in shares of Canadian National Railway by 179.9% during the second quarter. Two Sigma Securities LLC now owns 14,684 shares of the transportation company’s stock valued at $1,751,000 after buying an additional 9,438 shares during the period. Great Lakes Advisors LLC purchased a new position in Canadian National Railway in the 2nd quarter worth about $9,308,000. Puzo Michael J bought a new position in Canadian National Railway in the 2nd quarter worth about $5,915,000. Canandaigua National Bank & Trust Co. purchased a new position in shares of Canadian National Railway during the second quarter worth approximately $1,948,000. Finally, Cardinal Capital Management Inc. grew its stake in Canadian National Railway by 5.8% in the second quarter. Cardinal Capital Management Inc. now owns 1,254,252 shares of the transportation company’s stock worth $149,384,000 after purchasing an additional 68,791 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE CNI traded down $1.67 during trading hours on Monday, reaching $120.12. The stock had a trading volume of 939,610 shares, compared to its average volume of 1,509,151. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $131.55. The stock has a fifty day moving average of $122.23 and a 200 day moving average of $119.26. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. The stock has a market cap of $72.38 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, beating 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 net margin of 26.92% and a return on equity of 22.22%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.87 EPS. Sell-side analysts predict that Canadian National Railway Company will post 5.80 earnings per share for the current year.

Canadian National Railway Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th were issued a C$0.92 dividend. This represents a $3.66 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 8th. Canadian National Railway’s dividend payout ratio is presently 46.10%.

Analyst Ratings Changes

Several research analysts have issued reports on CNI shares. Evercore upgraded shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $108.00 to $124.00 in a report on Thursday, June 25th. Bank of America decreased their price target on shares of Canadian National Railway from $146.00 to $143.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. National Bank Financial set a $124.00 target price on Canadian National Railway in a research note on Thursday, June 25th. Citizens Jmp initiated coverage on shares of Canadian National Railway in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Finally, Barclays boosted their target price on shares of Canadian National Railway from $109.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average 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 railway network across Canada and the United States. The company provides rail, intermodal and related transportation services for shippers, connecting production and consumption centers with ports and distribution hubs.

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