Canadian National Railway Company $CNI Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. cut its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 62.7% in the 3rd quarter, HoldingsChannel reports. The fund 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 have also made changes to their positions in CNI. Cardinal Point Capital Management ULC boosted its stake in Canadian National Railway by 28.8% during the third quarter. Cardinal Point Capital Management ULC now owns 124,426 shares of the transportation company’s stock valued at $11,730,000 after buying an additional 27,857 shares in the last quarter. Westerkirk Capital Inc. bought a new stake in Canadian National Railway in the second quarter worth about $3,448,000. Lorne Steinberg Wealth Management Inc. lifted its holdings in Canadian National Railway by 23.3% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 83,095 shares of the transportation company’s stock valued at $7,834,000 after acquiring an additional 15,715 shares during the last quarter. Cardinal Capital Management Inc. boosted its position in shares of Canadian National Railway by 1.5% during the 3rd quarter. Cardinal Capital Management Inc. now owns 742,230 shares of the transportation company’s stock valued at $70,038,000 after purchasing an additional 10,880 shares in the last quarter. Finally, Nicola Wealth Management LTD. boosted its position in shares of Canadian National Railway by 13.9% during the 3rd quarter. Nicola Wealth Management LTD. now owns 198,800 shares of the transportation company’s stock valued at $18,749,000 after purchasing an additional 24,200 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Price Performance

NYSE CNI opened at $108.04 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $113.08. The company has a market cap of $66.24 billion, a PE ratio of 19.90, a PEG ratio of 2.22 and a beta of 0.90. The stock’s 50-day moving average price is $103.16 and its two-hundred day moving average price is $98.29.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $1.82 earnings per share. On average, analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 dividend on an annualized basis and a yield of 3.4%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio (DPR) is 46.59%.

Wall Street Analyst Weigh In

CNI has been the topic of a number of research reports. Royal Bank Of Canada dropped their target price on shares of Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, February 2nd. Barclays reduced 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 report on Monday, February 2nd. Evercore decreased their price target 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. UBS Group downgraded Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Citigroup reduced their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.