Capital Group Private Client Services Inc. Decreases Stake in Canadian National Railway Company $CNI

Capital Group Private Client Services Inc. decreased its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 62.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 85,995 shares of the transportation company’s stock after selling 144,671 shares during the period. Capital Group Private Client Services Inc.’s holdings in Canadian National Railway were worth $8,109,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Addison Advisors LLC increased its position in shares of Canadian National Railway by 124.0% in the second quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock worth $28,000 after acquiring an additional 150 shares in the last quarter. Hollencrest Capital Management acquired a new position in shares of Canadian National Railway during the 3rd quarter valued at $28,000. First Horizon Corp purchased a new stake in Canadian National Railway during the 3rd quarter worth $30,000. Costello Asset Management INC boosted its position in Canadian National Railway by 83.3% during the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock worth $31,000 after purchasing an additional 150 shares during the period. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in Canadian National Railway in the 3rd quarter valued at $50,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Up 1.2%

Shares of NYSE:CNI opened at $108.04 on Tuesday. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $113.08. The company’s fifty day moving average is $103.16 and its two-hundred day moving average is $98.29. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. The stock has a market capitalization of $66.24 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data 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. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.82 EPS. Equities analysts anticipate 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. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.915 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, March 10th. Canadian National Railway’s payout ratio is currently 46.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CNI shares. Evercore reduced 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. UBS Group lowered Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and raised their target price for the company from $146.00 to $151.00 in a report on Friday, November 28th. Zacks Research raised Canadian National Railway from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Canadian National Railway in a report on Monday, February 2nd. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.91.

Canadian National Railway Company 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.