Pinnacle Associates Ltd. Sells 7,455 Shares of Canadian National Railway Company $CNI

Pinnacle Associates Ltd. lessened its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.8% in the third quarter, HoldingsChannel.com reports. The firm owned 120,584 shares of the transportation company’s stock after selling 7,455 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Canadian National Railway were worth $11,371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CNI. AQR Capital Management LLC bought a new stake in Canadian National Railway during the 1st quarter valued at $311,000. Focus Partners Wealth boosted its position in Canadian National Railway by 11.1% during the 1st quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock valued at $1,122,000 after buying an additional 1,146 shares during the period. Schnieders Capital Management LLC. bought a new stake in Canadian National Railway in the 2nd quarter worth $202,000. Modera Wealth Management LLC increased its position in shares of Canadian National Railway by 328.1% in the second quarter. Modera Wealth Management LLC now owns 15,760 shares of the transportation company’s stock valued at $1,640,000 after acquiring an additional 12,079 shares during the period. Finally, Savant Capital LLC increased its position in shares of Canadian National Railway by 24.5% in the second quarter. Savant Capital LLC now owns 10,580 shares of the transportation company’s stock valued at $1,101,000 after acquiring an additional 2,085 shares during the period. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays lowered their price objective on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, February 2nd. Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a report on Monday, January 5th. UBS Group lowered Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. BMO Capital Markets reiterated an “outperform” rating on shares of Canadian National Railway in a report on Monday, February 2nd. Finally, Citigroup cut their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.91.

Canadian National Railway Trading Down 2.6%

NYSE:CNI opened at $106.86 on Monday. The company has a 50-day moving average price of $102.98 and a 200-day moving average price of $98.19. The stock has a market cap of $65.52 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $113.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.06. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the company earned $1.82 earnings per share. Canadian National Railway’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is presently 49.36%.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.