Callahan Advisors LLC Sells 19,588 Shares of Canadian National Railway Company $CNI

Key Points

• Callahan Advisors LLC cut its Canadian National Railway stake by 25.1% in the fourth quarter, selling 19,588 shares and leaving it with 58,422 shares worth about $5.78 million.
• The company reported quarterly earnings of $1.31 per share, matching Wall Street estimates, on revenue of $3.15 billion, which was roughly flat year over year and slightly below last year’s EPS.
• Canadian National Railway also declared a quarterly dividend of $0.915 per share, implying an annualized yield of 3.2%; analysts currently rate the stock a consensus Hold with an average price target of $122.04.

Callahan Advisors LLC lessened its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 25.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,422 shares of the transportation company's stock after selling 19,588 shares during the quarter. Callahan Advisors LLC's holdings in Canadian National Railway were worth $5,775,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Canadian National Railway by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 24,646,922 shares of the transportation company's stock worth $2,437,679,000 after buying an additional 346,670 shares during the period. Bank of Montreal Can lifted its holdings in shares of Canadian National Railway by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 14,201,675 shares of the transportation company's stock worth $1,338,948,000 after buying an additional 42,907 shares during the period. Caisse de depot et placement du Quebec lifted its holdings in shares of Canadian National Railway by 1.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 13,894,922 shares of the transportation company's stock worth $1,310,600,000 after buying an additional 157,000 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Canadian National Railway by 639,137.0% in the 3rd quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company's stock worth $844,353,000 after buying an additional 8,954,310 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Canadian National Railway by 0.4% in the 3rd quarter. Mackenzie Financial Corp now owns 8,626,147 shares of the transportation company's stock worth $813,287,000 after buying an additional 35,938 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Trading Up 1.4%

Shares of NYSE CNI opened at $114.74 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. The stock has a market capitalization of $69.73 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 2.17 and a beta of 0.95. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $115.80. The business has a fifty day moving average price of $107.88 and a 200 day moving average price of $102.82.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, meeting analysts' consensus estimates of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The company had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same period last year, the business posted $1.85 earnings per share. The firm's revenue was down .5% compared to the same quarter last year. Equities research analysts expect that Canadian National Railway Company will post 5.76 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a $0.915 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a yield of 3.2%. Canadian National Railway's dividend payout ratio (DPR) is 48.55%.

Analyst Ratings Changes

Several brokerages have weighed in on CNI. Weiss Ratings reiterated a "hold (c)" rating on shares of Canadian National Railway in a report on Monday, April 20th. Royal Bank Of Canada upped their price objective on Canadian National Railway from $160.00 to $178.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Sanford C. Bernstein upped their price objective on Canadian National Railway from $113.88 to $117.36 and gave the stock a "market perform" rating in a research note on Tuesday, March 31st. Stephens decreased their price objective on Canadian National Railway from $105.00 to $100.00 and set an "equal weight" rating for the company in a research note on Monday, February 2nd. Finally, Bank of America upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $117.00 to $122.00 in a research note on Thursday, April 9th. Nine analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $122.04.

About Canadian National Railway

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.

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