Parsons Capital Management Inc. RI Trims Stake in Canadian National Railway (NYSE:CNI)

Parsons Capital Management Inc. RI lessened its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,411 shares of the transportation company’s stock after selling 108 shares during the period. Parsons Capital Management Inc. RI’s holdings in Canadian National Railway were worth $2,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Canadian National Railway by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock valued at $2,813,534,000 after buying an additional 387,975 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Canadian National Railway by 9.6% during the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares during the period. FIL Ltd increased its holdings in Canadian National Railway by 7.2% in the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after purchasing an additional 1,280,726 shares during the last quarter. TD Asset Management Inc raised its position in Canadian National Railway by 2.8% in the fourth quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock valued at $1,471,733,000 after purchasing an additional 314,600 shares during the period. Finally, Capital International Investors lifted its stake in Canadian National Railway by 18.1% during the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after purchasing an additional 1,379,976 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Up 0.7 %

Shares of CNI traded up $0.82 during mid-day trading on Monday, reaching $113.74. The company’s stock had a trading volume of 695,861 shares, compared to its average volume of 1,075,438. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The stock has a market cap of $71.93 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 2.26 and a beta of 0.89. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The company’s 50 day moving average is $116.99 and its 200 day moving average is $124.11.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the previous year, the company posted $1.31 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. Equities analysts anticipate that Canadian National Railway will post 5.62 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a $0.614 dividend. The ex-dividend date is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.16%. Canadian National Railway’s payout ratio is currently 39.07%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus dropped their price objective on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Stephens cut their price target on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. StockNews.com lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Barclays cut their target price on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Finally, Scotiabank upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Sixteen investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $138.35.

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.