Intech Investment Management LLC Cuts Stock Position in Canadian National Railway (NYSE:CNI)

Intech Investment Management LLC lessened its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 13.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,813 shares of the transportation company’s stock after selling 11,112 shares during the quarter. Intech Investment Management LLC’s holdings in Canadian National Railway were worth $8,067,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNI. Advisors Asset Management Inc. increased its holdings in Canadian National Railway by 14.0% in the 1st quarter. Advisors Asset Management Inc. now owns 8,174 shares of the transportation company’s stock worth $1,077,000 after acquiring an additional 1,002 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Canadian National Railway during the first quarter worth $201,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Canadian National Railway by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,986,555 shares of the transportation company’s stock worth $525,070,000 after buying an additional 125,949 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Canadian National Railway by 3.1% during the first quarter. Earnest Partners LLC now owns 852,141 shares of the transportation company’s stock worth $112,277,000 after buying an additional 25,500 shares in the last quarter. Finally, Ascent Group LLC grew its holdings in shares of Canadian National Railway by 5.1% during the first quarter. Ascent Group LLC now owns 2,495 shares of the transportation company’s stock worth $329,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 2.1 %

NYSE CNI opened at $109.11 on Friday. The firm’s 50-day moving average is $113.29 and its two-hundred day moving average is $117.33. Canadian National Railway has a 12 month low of $105.28 and a 12 month high of $134.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The stock has a market capitalization of $68.72 billion, a P/E ratio of 17.49, a PEG ratio of 2.41 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. On average, sell-side analysts anticipate that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.24%. Canadian National Railway’s payout ratio is 39.26%.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of research reports. Barclays upped their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Sanford C. Bernstein dropped their target price on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a report on Wednesday, October 9th. Stephens reaffirmed an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Finally, Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target on the stock in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $125.48.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.