13,577 Canadian National Railway Company $CNI Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. cut its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,014,097 shares of the transportation company’s stock after selling 13,577 shares during the period. Canadian National Railway accounts for approximately 1.5% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 22nd largest position. Letko Brosseau & Associates Inc. owned 0.17% of Canadian National Railway worth $120,999,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Maryland State Retirement & Pension System grew its position in shares of Canadian National Railway by 3.7% in the 3rd quarter. Maryland State Retirement & Pension System now owns 63,327 shares of the transportation company’s stock worth $7,537,000 after buying an additional 2,264 shares during the period. Ritholtz Wealth Management lifted its position in Canadian National Railway by 2.6% during the 3rd quarter. Ritholtz Wealth Management now owns 22,134 shares of the transportation company’s stock valued at $2,632,000 after acquiring an additional 563 shares during the period. First Command Advisory Services Inc. bought a new stake in Canadian National Railway during the third quarter worth about $39,000. Mesirow Financial Investment Management Inc. bought a new stake in Canadian National Railway during the third quarter worth about $278,000. Finally, Lido Advisors LLC boosted its stake in Canadian National Railway by 5.4% during the third quarter. Lido Advisors LLC now owns 29,417 shares of the transportation company’s stock worth $3,498,000 after acquiring an additional 1,520 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Susquehanna raised their target price on shares of Canadian National Railway from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 3rd. Barclays boosted their price target on Canadian National Railway from $130.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. Citigroup upped their price target on Canadian National Railway from $143.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Monday, July 27th. Finally, Argus reiterated a “hold” rating on shares of Canadian National Railway in a research note on Monday, August 31st. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $138.76.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $127.56 on Friday. The company has a market capitalization of $76.86 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 2.33 and a beta of 0.90. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.61 and a current ratio of 0.82. Canadian National Railway Company has a one year low of $90.74 and a one year high of $131.55. The company’s 50-day moving average is $121.90 and its 200 day moving average is $116.60.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Friday, October 30th. The transportation company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.05. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.27 billion. Canadian National Railway had a net margin of 26.42% and a return on equity of 22.82%. The business’s revenue for the quarter was down 99.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.83 earnings per share. Sell-side analysts expect that Canadian National Railway Company will post 5.85 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 9th will be given a dividend of C$0.92 per share. The ex-dividend date of this dividend is Wednesday, December 9th. This represents a $3.66 annualized dividend and a dividend yield of 2.9%. Canadian National Railway’s dividend payout ratio (DPR) is 45.30%.

Canadian National Railway Company Profile

Canadian National Railway, commonly known as CN, is a North American transportation and logistics company that operates a freight rail network connecting Canada’s Atlantic, Pacific and Gulf coasts with the United States. Its network serves customers across Canada and the U.S. Midwest and South. CN transports a range of commodities and manufactured goods, including intermodal shipments, grain and fertilizers, petroleum and chemicals, forest products, metals and minerals, and finished vehicles. The company also provides services such as rail-connected logistics and supply-chain solutions.