Intact Investment Management Inc. Reduces Stock Position in Canadian National Railway Company $CNI

Intact Investment Management Inc. cut its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 12.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 436,470 shares of the transportation company’s stock after selling 62,023 shares during the quarter. Canadian National Railway accounts for about 1.2% of Intact Investment Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Intact Investment Management Inc. owned 0.07% of Canadian National Railway worth $41,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNI. Addison Advisors LLC grew its position in Canadian National Railway by 124.0% in the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock worth $28,000 after purchasing an additional 150 shares during the period. First Horizon Corp bought a new stake in shares of Canadian National Railway in the third quarter worth $30,000. Curio Wealth LLC grew its holdings in shares of Canadian National Railway by 31,600.0% in the second quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock worth $33,000 after acquiring an additional 316 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new stake in Canadian National Railway during the third quarter valued at $50,000. Finally, Private Trust Co. NA increased its position in Canadian National Railway by 30.8% during the third quarter. Private Trust Co. NA now owns 603 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 142 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Down 0.2%

CNI opened at $99.81 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.42 and a current ratio of 0.60. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $108.75. The firm’s fifty day moving average is $97.54 and its 200 day moving average is $96.28. The stock has a market cap of $61.32 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 2.08 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $4.15 billion. Canadian National Railway had a return on equity of 21.50% and a net margin of 26.86%.Canadian National Railway’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.72 EPS. 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 9th were paid a dividend of $0.8875 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $3.55 annualized dividend and a yield of 3.6%. Canadian National Railway’s dividend payout ratio is 48.01%.

Analyst Ratings Changes

Several brokerages have issued reports on CNI. Cibc Captl Mkts raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Citigroup cut their target price on shares of Canadian National Railway from $120.00 to $119.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Royal Bank Of Canada increased their price target on shares of Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Bank of America dropped their price target on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Finally, Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.64.

Canadian National Railway 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.