Somerville Kurt F Decreases Position in Canadian National Railway Company $CNI

Somerville Kurt F cut its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,740 shares of the transportation company’s stock after selling 6,190 shares during the period. Canadian National Railway makes up 1.9% of Somerville Kurt F’s portfolio, making the stock its 22nd largest position. Somerville Kurt F’s holdings in Canadian National Railway were worth $11,197,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in Canadian National Railway in the second quarter valued at $591,904,000. Fisher Asset Management LLC bought a new stake in Canadian National Railway during the 2nd quarter valued at approximately $189,748,000. Troy Asset Management Ltd boosted its holdings in shares of Canadian National Railway by 158.8% during the 3rd quarter. Troy Asset Management Ltd now owns 2,738,372 shares of the transportation company’s stock valued at $258,220,000 after purchasing an additional 1,680,223 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Canadian National Railway by 26.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock worth $695,048,000 after acquiring an additional 1,408,978 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Canadian National Railway by 20.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock valued at $655,768,000 after purchasing an additional 1,051,977 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Performance

Canadian National Railway stock traded up $0.66 during mid-day trading on Friday, reaching $110.09. 87,950 shares of the company were exchanged, compared to its average volume of 1,673,552. The firm has a market cap of $67.50 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. 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 Company has a twelve month low of $90.74 and a twelve month high of $110.31. The firm’s 50-day simple moving average is $100.30 and its two-hundred day simple moving average is $96.83.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the company posted $1.82 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is currently 46.59%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CNI shares. Zacks Research raised shares of Canadian National Railway from a “strong sell” rating to a “hold” rating in a research note on Friday, November 28th. Evercore decreased their price target on 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. Stephens decreased 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 restated an “outperform” rating on shares of Canadian National Railway in a research report on Monday, February 2nd. Finally, Citigroup decreased 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 research note on Monday, February 2nd. Ten equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently 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.