Canadian National Railway Company $CNI Shares Sold by Bowen Hanes & Co. Inc.

Key Points

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Bowen Hanes & Co. Inc. trimmed its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 21.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,902 shares of the transportation company's stock after selling 11,095 shares during the quarter. Bowen Hanes & Co. Inc.'s holdings in Canadian National Railway were worth $3,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CNI. Dagco Inc. acquired a new position in shares of Canadian National Railway in the 1st quarter worth approximately $32,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Canadian National Railway by 44.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after acquiring an additional 106 shares during the last quarter. CX Institutional acquired a new position in shares of Canadian National Railway in the 1st quarter worth approximately $39,000. Brooklyn Investment Group lifted its holdings in shares of Canadian National Railway by 354.3% in the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock worth $42,000 after acquiring an additional 333 shares during the last quarter. Finally, Dunhill Financial LLC lifted its holdings in shares of Canadian National Railway by 1,020.0% in the 4th quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock worth $57,000 after acquiring an additional 510 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 0.2%

Shares of NYSE:CNI opened at $93.13 on Tuesday. Canadian National Railway Company has a 52 week low of $91.65 and a 52 week high of $121.12. The company's 50 day moving average is $99.89 and its two-hundred day moving average is $100.39. 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 company has a market cap of $58.14 billion, a PE ratio of 17.91, a P/E/G ratio of 2.08 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The company had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company's quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the business earned $1.84 earnings per share. Equities analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be given a $0.6507 dividend. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. Canadian National Railway's payout ratio is 49.81%.

Wall Street Analyst Weigh In

CNI has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Canadian National Railway from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Wells Fargo & Company decreased their price objective on shares of Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Raymond James Financial raised shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. Citigroup cut their target price on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada cut their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $118.36.

About Canadian National Railway

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.

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