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

Key Points

• Cardinal Capital Management reduced its Canadian National Railway stake by 5.1% in the third quarter, selling 63,984 shares and retaining 1.19 million shares valued at approximately $142 million. Institutional investors collectively own 80.74% of CNI.
• Analyst sentiment remains moderately bullish, with nine Buy ratings and nine Hold ratings. The stock has an average price target of $137.49, compared with its reported share price of $121.85.
• Canadian National Railway reported quarterly EPS of $1.50, exceeding estimates of $1.39, while revenue reached $3.35 billion and increased 11.3% year over year. The company also paid a quarterly dividend of C$0.92, representing an annualized yield of about 3.0%.

Cardinal Capital Management Inc. lessened its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,190,268 shares of the transportation company's stock after selling 63,984 shares during the quarter. Canadian National Railway accounts for approximately 3.2% of Cardinal Capital Management Inc.'s investment portfolio, making the stock its 11th biggest holding. Cardinal Capital Management Inc. owned 0.20% of Canadian National Railway worth $142,047,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CNI. Triasima Portfolio Management inc. boosted its stake in shares of Canadian National Railway by 35.6% during the 3rd quarter. Triasima Portfolio Management inc. now owns 145,653 shares of the transportation company's stock worth $17,379,000 after buying an additional 38,233 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Canadian National Railway by 1.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 16,701 shares of the transportation company's stock valued at $1,993,000 after acquiring an additional 161 shares in the last quarter. Ninety One UK Ltd bought a new position in shares of Canadian National Railway in the 3rd quarter valued at about $447,000. Focus Financial Network Inc. increased its position in shares of Canadian National Railway by 5.6% in the third quarter. Focus Financial Network Inc. now owns 1,956 shares of the transportation company's stock valued at $233,000 after acquiring an additional 104 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Canadian National Railway in the third quarter valued at about $310,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Analysts Set New Price Targets

CNI has been the topic of several analyst reports. Argus reiterated a "hold" rating on shares of Canadian National Railway in a report on Monday, August 31st. Weiss Ratings upgraded Canadian National Railway from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Royal Bank Of Canada raised their price target on Canadian National Railway from $195.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Bank of America lowered their price target on Canadian National Railway from $146.00 to $143.00 and set a "buy" rating on the stock in a research report on Wednesday, September 23rd. Finally, Wells Fargo & Company upped their price objective on Canadian National Railway from $135.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, July 27th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Canadian National Railway has an average rating of "Moderate Buy" and an average target price of $137.49.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $121.85 on Friday. The stock has a market cap of $73.42 billion, a P/E ratio of 21.45, a P/E/G ratio of 2.16 and a beta of 0.96. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. The company has a fifty day moving average price of $122.33 and a two-hundred day moving average price of $119.02. Canadian National Railway Company has a one year low of $90.74 and a one year high of $131.55.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.26 billion. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The company's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.87 EPS. As a group, equities analysts predict that Canadian National Railway Company will post 5.80 EPS for the current year.

Canadian National Railway Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th were paid a C$0.92 dividend. This represents a $3.66 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is 46.10%.

Canadian National Railway Profile

Canadian National Railway Company NYSE: CNI is a transportation and logistics company that operates a major freight rail network in Canada and the United States. Its network connects the Atlantic, Pacific and Gulf coasts, serving ports, industrial centers, agricultural regions and major population markets.

CN transports a broad range of commodities and manufactured goods, including forest products, grain and fertilizers, coal, metals and minerals, petroleum and chemicals, automotive products, and consumer goods.

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