Canadian National Railway Company $CNI Shares Sold by Addenda Capital Inc.

Key Points

• Addenda Capital cut its stake in Canadian National by 3.1%, selling 14,312 shares and leaving it with 454,002 shares (about $44.9M), making CNI its 20th-largest holding.
• CN beat Q results on EPS ($1.49 vs. $1.43 est.) but missed on revenue ($3.24B), raised its quarterly dividend to $0.915 (annualized $3.66, ~3.4% yield), and carries a MarketBeat consensus rating of "Hold" with an average price target of $116.94.

Addenda Capital Inc. decreased its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 454,002 shares of the transportation company's stock after selling 14,312 shares during the period. Canadian National Railway makes up approximately 1.6% of Addenda Capital Inc.'s holdings, making the stock its 20th largest position. Addenda Capital Inc. owned approximately 0.07% of Canadian National Railway worth $44,878,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Hollencrest Capital Management acquired a new stake in shares of Canadian National Railway during the third quarter worth about $28,000. First Horizon Corp acquired a new stake in shares of Canadian National Railway during the third quarter worth about $30,000. Costello Asset Management INC boosted its stake in shares of Canadian National Railway by 83.3% during the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company's stock worth $31,000 after buying an additional 150 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Canadian National Railway during the third quarter worth about $50,000. Finally, Fulcrum Asset Management LLP acquired a new stake in shares of Canadian National Railway during the third quarter worth about $51,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Price Performance

CNI stock opened at $107.74 on Thursday. The firm has a 50 day moving average of $104.90 and a 200-day moving average of $99.47. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $113.08. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94. The company has a market cap of $65.85 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.17 and a beta of 0.91.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the firm earned $1.82 EPS. The company's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts expect that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th were given a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, March 10th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.89. Canadian National Railway's payout ratio is 49.36%.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of recent analyst reports. Evercore reduced their price objective on shares of Canadian National Railway from $105.00 to $103.00 and set an "in-line" rating for the company in a research report on Monday, February 2nd. UBS Group downgraded shares of Canadian National Railway from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 2nd. Citigroup raised their price objective on shares of Canadian National Railway from $115.00 to $123.00 and gave the company a "buy" rating in a research report on Tuesday. Royal Bank Of Canada reduced 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. Finally, Barclays raised their price objective on shares of Canadian National Railway from $97.00 to $98.00 and gave the company an "equal weight" rating in a research report on Friday, March 27th. Nine equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $116.94.

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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