Picton Mahoney Asset Management Sells 48,654 Shares of Canadian National Railway Company $CNI

Picton Mahoney Asset Management lowered its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 21.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 174,203 shares of the transportation company’s stock after selling 48,654 shares during the quarter. Picton Mahoney Asset Management’s holdings in Canadian National Railway were worth $16,423,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CNI. AQR Capital Management LLC acquired a new stake in Canadian National Railway in the 1st quarter valued at about $311,000. Focus Partners Wealth increased its position in Canadian National Railway by 11.1% during the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after buying an additional 1,146 shares during the last quarter. Schnieders Capital Management LLC. bought a new stake in Canadian National Railway in the second quarter valued at approximately $202,000. Arkadios Wealth Advisors lifted its position in shares of Canadian National Railway by 25.9% in the second quarter. Arkadios Wealth Advisors now owns 4,046 shares of the transportation company’s stock valued at $421,000 after buying an additional 833 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Canadian National Railway by 11.1% during the 2nd quarter. Assetmark Inc. now owns 5,090 shares of the transportation company’s stock worth $530,000 after acquiring an additional 510 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNI has been the subject of several research reports. Zacks Research raised Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Barclays dropped their price objective on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, February 2nd. Stephens reduced their target price on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, February 2nd. Citigroup decreased their price target on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada cut their price objective on shares of Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.91.

Canadian National Railway Price Performance

NYSE:CNI opened at $111.19 on Wednesday. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $113.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. The firm’s 50-day simple moving average is $102.35 and its 200 day simple moving average is $97.87. The firm has a market cap of $68.17 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 2.38 and a beta of 0.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the business posted $1.82 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.915 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.3%. Canadian National Railway’s payout ratio is currently 46.59%.

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.