1832 Asset Management L.P. Decreases Position in Canadian National Railway Company $CNI

1832 Asset Management L.P. lowered its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,622,973 shares of the transportation company’s stock after selling 620,539 shares during the quarter. Canadian National Railway accounts for 0.9% of 1832 Asset Management L.P.’s holdings, making the stock its 11th biggest holding. 1832 Asset Management L.P. owned approximately 1.70% of Canadian National Railway worth $1,105,214,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bennett Selby Investments LP lifted its stake in Canadian National Railway by 2.2% in the second quarter. Bennett Selby Investments LP now owns 4,796 shares of the transportation company’s stock worth $499,000 after acquiring an additional 101 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in shares of Canadian National Railway by 13.4% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 929 shares of the transportation company’s stock valued at $97,000 after purchasing an additional 110 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Canadian National Railway by 3.3% in the 2nd quarter. IFP Advisors Inc now owns 3,582 shares of the transportation company’s stock worth $373,000 after purchasing an additional 115 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Canadian National Railway by 5.3% during the second quarter. D.A. Davidson & CO. now owns 2,374 shares of the transportation company’s stock valued at $247,000 after purchasing an additional 119 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Canadian National Railway by 1.9% during the second quarter. M&T Bank Corp now owns 6,629 shares of the transportation company’s stock valued at $690,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNI. Barclays lowered their target price on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a report on Thursday, October 2nd. CIBC upgraded Canadian National Railway from a “neutral” rating to an “outperformer” rating and upped their price objective for the stock from $146.00 to $151.00 in a research note on Friday, November 28th. Citigroup raised their price objective on Canadian National Railway from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Evercore ISI boosted their target price on shares of Canadian National Railway from $98.00 to $103.00 and gave the stock an “in-line” rating in a report on Monday, November 3rd. Finally, Wells Fargo & Company decreased their price target on shares of Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and an average price target of $117.36.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $96.03 on Wednesday. The business has a fifty day moving average of $94.91 and a 200 day moving average of $97.87. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $111.67. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.60 and a quick ratio of 0.42. The firm has a market capitalization of $59.20 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 2.16 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. Canadian National Railway had a return on equity of 21.50% and a net margin of 26.86%.The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period in the prior year, the company earned $1.72 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th will be given a dividend of $0.8875 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is 49.53%.

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.