Bradley Foster & Sargent Inc. CT Sells 7,338 Shares of Canadian National Railway Company $CNI

Bradley Foster & Sargent Inc. CT lessened its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 7.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 87,454 shares of the transportation company’s stock after selling 7,338 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Canadian National Railway were worth $8,247,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cardinal Point Capital Management ULC raised its position in shares of Canadian National Railway by 28.8% in the 3rd quarter. Cardinal Point Capital Management ULC now owns 124,426 shares of the transportation company’s stock worth $11,730,000 after acquiring an additional 27,857 shares in the last quarter. Westerkirk Capital Inc. acquired a new stake in Canadian National Railway during the second quarter worth approximately $3,448,000. Lorne Steinberg Wealth Management Inc. increased its holdings in Canadian National Railway by 23.3% in the third quarter. Lorne Steinberg Wealth Management Inc. now owns 83,095 shares of the transportation company’s stock worth $7,834,000 after purchasing an additional 15,715 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. increased its holdings in Canadian National Railway by 9.8% in the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 802,257 shares of the transportation company’s stock worth $83,646,000 after purchasing an additional 71,364 shares in the last quarter. Finally, Cardinal Capital Management Inc. lifted its stake in Canadian National Railway by 1.5% in the third quarter. Cardinal Capital Management Inc. now owns 742,230 shares of the transportation company’s stock valued at $70,038,000 after buying an additional 10,880 shares during the period. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group downgraded shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Susquehanna raised their price target on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a report on Monday, November 3rd. Barclays decreased their price target 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. Canadian Imperial Bank of Commerce raised shares of Canadian National Railway from a “hold” rating to an “outperformer” rating and increased their price objective for the stock from $146.00 to $151.00 in a research report on Friday, November 28th. Finally, Royal Bank Of Canada reduced their target price on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, February 2nd. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $118.91.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $109.05 on Thursday. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $111.47. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94. The business has a 50 day moving average price of $101.31 and a 200-day moving average price of $97.33. The company has a market cap of $66.86 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.43 billion. During the same period last year, the firm earned $1.82 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. Equities analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is currently 46.59%.

About Canadian National Railway

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.