Northstar Asset Management Inc. Sells 9,066 Shares of Canadian National Railway Company $CNI

Northstar Asset Management Inc. cut its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 11.3% during the second quarter, Holdings Channel.com reports. The firm owned 71,406 shares of the transportation company’s stock after selling 9,066 shares during the period. Canadian National Railway makes up 2.5% of Northstar Asset Management Inc.’s holdings, making the stock its 13th biggest holding. Northstar Asset Management Inc.’s holdings in Canadian National Railway were worth $8,514,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC bought a new position in shares of Canadian National Railway in the 1st quarter worth $311,000. Focus Partners Wealth boosted 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 valued at $1,122,000 after purchasing an additional 1,146 shares in the last quarter. Schnieders Capital Management LLC. bought a new stake in Canadian National Railway during the second quarter valued at about $202,000. EverSource Wealth Advisors LLC grew its stake in Canadian National Railway by 52.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 383 shares during the last quarter. Finally, Baird Financial Group Inc. grew its stake in Canadian National Railway by 2.9% in the second quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock valued at $1,778,000 after purchasing an additional 474 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Down 0.5%

Shares of NYSE:CNI opened at $125.89 on Friday. The business’s 50-day moving average is $125.18 and its 200 day moving average is $115.59. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 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 firm has a market capitalization of $76.18 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.35 and a beta of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The business had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the company earned $1.87 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. On average, research analysts predict that Canadian National Railway Company will post 5.81 earnings per share for the current fiscal year.

Canadian National Railway Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th will be paid a $0.915 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. Canadian National Railway’s dividend payout ratio (DPR) is 47.34%.

Analyst Ratings Changes

Several analysts have commented on the stock. Citizens Jmp assumed coverage on shares of Canadian National Railway in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. Barclays lifted their price objective on shares of Canadian National Railway from $109.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a research note on Thursday, June 25th. Royal Bank Of Canada increased 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 report on Monday, July 27th. Finally, Susquehanna restated a “neutral” rating and issued a $140.00 target price (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Canadian National Railway presently has an average rating of “Moderate Buy” and a consensus price target of $137.40.

Canadian National Railway 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.