Canadian National Railway Company $CNI Shares Sold by Kidder Stephen W

Kidder Stephen W cut its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 56,459 shares of the transportation company’s stock after selling 4,654 shares during the quarter. Canadian National Railway accounts for 1.8% of Kidder Stephen W’s portfolio, making the stock its 23rd largest position. Kidder Stephen W’s holdings in Canadian National Railway were worth $5,874,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CNI. Kingstone Capital Partners Texas LLC acquired a new position in shares of Canadian National Railway during the 2nd quarter valued at $310,489,000. The Manufacturers Life Insurance Company grew its holdings in shares of Canadian National Railway by 37.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company’s stock worth $518,260,000 after acquiring an additional 1,439,617 shares during the last quarter. Nuveen LLC acquired a new position in shares of Canadian National Railway in the 1st quarter worth $112,216,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Canadian National Railway by 20.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock worth $646,983,000 after acquiring an additional 1,148,569 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Canadian National Railway by 39.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock worth $259,694,000 after acquiring an additional 755,518 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CNI. Evercore ISI cut Canadian National Railway from an “outperform” rating to an “in-line” rating and set a $105.00 target price on the stock. in a report on Wednesday, July 23rd. Barclays decreased their target price on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a report on Thursday, October 2nd. Susquehanna decreased their target price on Canadian National Railway from $120.00 to $115.00 and set a “positive” rating on the stock in a report on Thursday, September 25th. Argus upgraded Canadian National Railway to a “hold” rating in a report on Friday, June 27th. Finally, Raymond James Financial upgraded Canadian National Railway from a “market perform” rating to an “outperform” rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and an average price target of $116.11.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $96.87 on Wednesday. The stock has a market cap of $60.14 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 2.16 and a beta of 0.96. The business has a fifty day simple moving average of $94.42 and a 200-day simple moving average of $99.02. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 12 month low of $91.07 and a 12 month high of $116.79.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the business earned $1.84 EPS. On average, sell-side analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 8th were given a dividend of $0.6507 per share. The ex-dividend date of this dividend was Monday, September 8th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a yield of 2.7%. Canadian National Railway’s payout ratio is 50.19%.

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.