Sterling Investment Management LLC Cuts Stock Position in Canadian National Railway Company $CNI

Sterling Investment Management LLC cut its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,660 shares of the transportation company’s stock after selling 6,185 shares during the quarter. Canadian National Railway accounts for approximately 1.8% of Sterling Investment Management LLC’s investment portfolio, making the stock its 16th largest position. Sterling Investment Management LLC’s holdings in Canadian National Railway were worth $3,130,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nicholas Hoffman & Company LLC. purchased a new position in shares of Canadian National Railway in the fourth quarter valued at $201,000. Triasima Portfolio Management inc. purchased a new position in shares of Canadian National Railway in the fourth quarter valued at $3,842,000. Intact Investment Management Inc. grew its holdings in shares of Canadian National Railway by 29.7% in the fourth quarter. Intact Investment Management Inc. now owns 565,920 shares of the transportation company’s stock valued at $55,969,000 after purchasing an additional 129,450 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Canadian National Railway by 9.5% in the fourth quarter. Benjamin Edwards Inc. now owns 4,516 shares of the transportation company’s stock valued at $446,000 after purchasing an additional 391 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Canadian National Railway by 8.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 11,469 shares of the transportation company’s stock valued at $1,134,000 after purchasing an additional 854 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Down 2.4%

NYSE:CNI opened at $109.31 on Tuesday. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $115.80. The company has a market cap of $66.54 billion, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The stock has a fifty day simple moving average of $107.47 and a 200-day simple moving average of $101.40. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting the consensus estimate of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the company earned $1.85 earnings per share. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts anticipate that Canadian National Railway Company will post 5.74 EPS for the current year.

Canadian National Railway Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, June 9th. Canadian National Railway’s payout ratio is presently 48.73%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Stephens dropped their price objective on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, February 2nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Citigroup lifted their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Evercore dropped their price objective on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a research note on Monday, February 2nd. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $122.04.

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.