Canadian National Railway Company $CNI Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 86.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,473 shares of the transportation company’s stock after selling 41,358 shares during the period. Bessemer Group Inc.’s holdings in Canadian National Railway were worth $610,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Addison Advisors LLC increased its stake in shares of Canadian National Railway by 124.0% during 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 last quarter. Hollencrest Capital Management acquired a new position in Canadian National Railway during the third quarter worth $28,000. Curio Wealth LLC raised its holdings in Canadian National Railway by 31,600.0% during the second quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock valued at $33,000 after buying an additional 316 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Canadian National Railway in the third quarter worth about $30,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Canadian National Railway during the 3rd quarter worth about $50,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $106.12 on Wednesday. The firm has a market capitalization of $65.20 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.17 and a beta of 0.94. Canadian National Railway Company has a one year low of $90.74 and a one year high of $108.75. The business has a fifty day simple moving average of $98.96 and a 200 day simple moving average of $96.20. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.06. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.82 earnings per share. Sell-side analysts expect 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, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.915 per share. This represents a $3.66 annualized dividend and a yield of 3.4%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, March 10th. Canadian National Railway’s payout ratio is currently 46.59%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CNI. Evercore cut their target price on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a research report on Monday, February 2nd. Zacks Research raised Canadian National Railway from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and increased their target price for the company from $146.00 to $151.00 in a research note on Friday, November 28th. UBS Group lowered Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.91.

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.