Coleford Investment Management Ltd. Cuts Stock Position in Canadian National Railway Company $CNI

Coleford Investment Management Ltd. cut its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,706 shares of the transportation company’s stock after selling 1,330 shares during the quarter. Canadian National Railway makes up 4.0% of Coleford Investment Management Ltd.’s investment portfolio, making the stock its 12th largest holding. Coleford Investment Management Ltd.’s holdings in Canadian National Railway were worth $15,594,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Founders Capital Management LLC bought a new stake in shares of Canadian National Railway in the 2nd quarter worth approximately $3,335,000. Goldman Sachs Group Inc. increased its position in Canadian National Railway by 39.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock worth $259,694,000 after buying an additional 755,518 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Canadian National Railway by 2.3% in the second quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock valued at $1,255,385,000 after buying an additional 273,974 shares during the period. Cardinal Capital Management Inc. lifted its position in shares of Canadian National Railway by 3.1% during the 2nd quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company’s stock valued at $76,178,000 after buying an additional 22,035 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Canadian National Railway by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company’s stock worth $9,185,000 after acquiring an additional 3,400 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Barclays lowered their price objective on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 2nd. Zacks Research lowered shares of Canadian National Railway from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Wall Street Zen upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Evercore ISI raised their price objective on shares of Canadian National Railway from $98.00 to $103.00 and gave the stock an “in-line” rating in a report on Monday. Finally, Wells Fargo & Company lowered their target price on shares of Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $114.00.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $94.54 on Friday. Canadian National Railway Company has a 1-year low of $91.07 and a 1-year high of $114.13. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $58.49 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.13 and a beta of 0.95. The firm’s 50 day simple moving average is $94.96 and its 200 day simple moving average is $98.63.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $4.15 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.72 EPS. As a group, analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be paid a $0.8875 dividend. The ex-dividend date is Tuesday, December 9th. This represents a $3.55 dividend on an annualized basis and a yield of 3.8%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s dividend payout ratio is currently 48.01%.

Canadian National Railway Profile

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.