Clearstead Advisors LLC Sells 14,789 Shares of Canadian National Railway Company $CNI

Clearstead Advisors LLC trimmed its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 50.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,650 shares of the transportation company’s stock after selling 14,789 shares during the quarter. Clearstead Advisors LLC’s holdings in Canadian National Railway were worth $1,381,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Addison Advisors LLC boosted 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 acquiring an additional 150 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of Canadian National Railway in the 3rd quarter worth $28,000. First Horizon Corp bought a new position in Canadian National Railway in the 3rd quarter worth $30,000. Costello Asset Management INC lifted its position in Canadian National Railway by 83.3% during the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 150 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Canadian National Railway during the third quarter valued at about $50,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $109.05 on Thursday. The firm has a market cap of $66.86 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 2.34 and a beta of 0.94. The firm has a fifty day moving average price of $101.31 and a 200 day moving average price of $97.33. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $111.47. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. The business 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 business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.82 EPS. As a group, sell-side analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal 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 issued a dividend of $0.915 per share. The ex-dividend date is Tuesday, March 10th. This represents a $3.66 annualized dividend and a yield of 3.4%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio (DPR) is 46.59%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CNI. Evercore decreased their price objective on Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a research note on Monday, February 2nd. Citigroup lowered their price target on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Barclays dropped 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 report on Monday, February 2nd. BMO Capital Markets restated an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Finally, Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and increased their price target for the stock from $146.00 to $151.00 in a research note on Friday, November 28th. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.