Canadian National Railway Company $CNI Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC lowered its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 14.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,008 shares of the transportation company’s stock after selling 348 shares during the quarter. Ballentine Partners LLC’s holdings in Canadian National Railway were worth $209,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dagco Inc. acquired a new stake in shares of Canadian National Railway in the first quarter worth $32,000. Bruce G. Allen Investments LLC increased its stake in shares of Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company’s stock worth $34,000 after acquiring an additional 106 shares during the period. CX Institutional acquired a new stake in Canadian National Railway during the first quarter valued at $39,000. Brooklyn Investment Group grew its position in Canadian National Railway by 354.3% during the first quarter. Brooklyn Investment Group now owns 427 shares of the transportation company’s stock valued at $42,000 after buying an additional 333 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Canadian National Railway by 42.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock valued at $58,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE:CNI opened at $93.94 on Tuesday. The company’s 50-day moving average price is $94.53 and its 200-day moving average price is $99.11. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The company has a market cap of $58.32 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.14 and a beta of 0.94. Canadian National Railway Company has a twelve month low of $91.07 and a twelve month high of $117.42.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $4.34 billion. During the same period last year, the firm earned $1.84 earnings per share. Canadian National Railway’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, sell-side analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 8th were paid a dividend of $0.6507 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, September 8th. Canadian National Railway’s payout ratio is presently 50.19%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup dropped their price target on shares of Canadian National Railway from $124.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, July 9th. Evercore ISI lowered shares of Canadian National Railway from an “outperform” rating to an “in-line” rating and set a $105.00 price target on the stock. in a research report on Wednesday, July 23rd. Barclays dropped their price target on shares of Canadian National Railway from $106.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company dropped their price target on shares of Canadian National Railway from $120.00 to $117.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $116.86.

Canadian National Railway Company Profile

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.