Canadian National Railway Company $CNI Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 10.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 374,763 shares of the transportation company’s stock after selling 44,504 shares during the period. First Trust Advisors LP owned 0.06% of Canadian National Railway worth $38,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC purchased a new stake in shares of Canadian National Railway during the first quarter worth $218,000. Townsquare Capital LLC boosted its position in Canadian National Railway by 51.0% during the first quarter. Townsquare Capital LLC now owns 5,865 shares of the transportation company’s stock worth $572,000 after acquiring an additional 1,982 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Canadian National Railway by 1.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,665,089 shares of the transportation company’s stock valued at $259,740,000 after acquiring an additional 48,142 shares in the last quarter. Nuveen LLC acquired a new stake in Canadian National Railway in the 1st quarter valued at about $112,216,000. Finally, Public Sector Pension Investment Board raised its holdings in Canadian National Railway by 0.6% in the 1st quarter. Public Sector Pension Investment Board now owns 53,387 shares of the transportation company’s stock valued at $5,195,000 after acquiring an additional 300 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 0.4%

Shares of CNI stock opened at $97.82 on Wednesday. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $108.75. The firm has a market cap of $60.31 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.96. The company has a 50-day moving average of $95.42 and a two-hundred day moving average of $97.59. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.60 and a quick ratio of 0.42.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.28 by $0.05. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $4.15 billion. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 EPS. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders 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 dividend yield of 3.6%. The ex-dividend date is Tuesday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is 48.20%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Cibc Captl Mkts upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Barclays dropped 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. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Evercore ISI boosted their price target on shares of Canadian National Railway from $98.00 to $103.00 and gave the company an “in-line” rating in a research report on Monday, November 3rd. Finally, Susquehanna raised their price objective on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Two investment 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.36.

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.