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

Letko Brosseau & Associates Inc. lowered its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.3% in the 3rd quarter, Holdings Channel reports. 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 1.5% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 22nd biggest holding. Letko Brosseau & Associates Inc.’s holdings in Canadian National Railway were worth $120,999,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CNI. Royal Bank Of Canada upped their target price on shares of Canadian National Railway from $195.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Wells Fargo & Company lifted their price target on shares of Canadian National Railway from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Barclays lifted their price target on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Susquehanna boosted their price objective on shares of Canadian National Railway from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, November 3rd. Finally, Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Monday, July 27th. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $138.76.

Canadian National Railway Stock Performance

CNI stock opened at $127.56 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.82 and a quick ratio of 0.61. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $131.55. The company has a market cap of $76.86 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 2.33 and a beta of 0.90. The stock’s fifty day moving average price is $121.90 and its 200-day moving average price is $116.60.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Friday, October 30th. The transportation company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.27 billion. Canadian National Railway had a return on equity of 22.82% and a net margin of 26.42%. Canadian National Railway’s revenue for the quarter was down 99.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 earnings per share. On average, equities analysts forecast that Canadian National Railway Company will post 5.85 earnings per share for the current year.

Canadian National Railway Announces Dividend

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

About Canadian National Railway

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.