Canadian National Railway Company $CNI Stake Cut by Findlay Park Partners LLP

Findlay Park Partners LLP lessened its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.8% in the third quarter, HoldingsChannel.com reports. The firm owned 1,463,768 shares of the transportation company’s stock after selling 26,600 shares during the period. Findlay Park Partners LLP’s holdings in Canadian National Railway were worth $138,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Canadian National Railway Stock Performance

Shares of CNI opened at $112.20 on Friday. The firm has a market capitalization of $68.79 billion, a PE ratio of 20.66, a P/E/G ratio of 2.32 and a beta of 0.94. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average price of $101.80 and a 200 day moving average price of $97.55. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $112.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 EPS. On average, sell-side analysts anticipate 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 paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, March 10th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio is 49.36%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CNI shares. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and boosted their price objective for the company from $146.00 to $151.00 in a research report on Friday, November 28th. Zacks Research raised shares of Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. UBS Group cut shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Evercore cut their price objective on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a research report on Monday, February 2nd. Finally, Barclays decreased their target price 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. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.