Canadian National Railway Company $CNI Shares Sold by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments reduced its Canadian National Railway stake by 8.4% in the third quarter, selling 15,526 shares and retaining 169,164 shares valued at approximately $20.2 million. Institutional investors collectively own 80.74% of CNI.
• Canadian National Railway reported quarterly earnings of $1.50 per share, exceeding estimates of $1.39, while revenue rose 11.3% year over year to $3.35 billion. Analysts project $5.80 in full-year EPS.
• The company pays an annualized dividend of C$3.66 per share, yielding about 3.1%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $137.49, compared with the reported share price of $118.94.

Montrusco Bolton Investments Inc. decreased its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 169,164 shares of the transportation company's stock after selling 15,526 shares during the period. Montrusco Bolton Investments Inc.'s holdings in Canadian National Railway were worth $20,184,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CNI. Farther Finance Advisors LLC raised its stake in shares of Canadian National Railway by 5.2% during the third quarter. Farther Finance Advisors LLC now owns 8,132 shares of the transportation company's stock valued at $967,000 after purchasing an additional 405 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in Canadian National Railway in the 3rd quarter valued at about $200,000. Quintet Private Bank Europe S.A. increased its stake in Canadian National Railway by 100.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 500 shares of the transportation company's stock valued at $60,000 after buying an additional 250 shares during the period. Ausbil Investment Management Ltd increased its stake in Canadian National Railway by 12.1% during the 3rd quarter. Ausbil Investment Management Ltd now owns 63,662 shares of the transportation company's stock valued at $7,596,000 after buying an additional 6,856 shares during the period. Finally, Cooper Financial Group increased its stake in Canadian National Railway by 8.8% during the 3rd quarter. Cooper Financial Group now owns 1,971 shares of the transportation company's stock valued at $234,000 after buying an additional 159 shares during the period. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Price Performance

Shares of NYSE CNI traded up $0.42 during trading on Tuesday, hitting $118.94. The company had a trading volume of 728,770 shares, compared to its average volume of 1,520,054. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $131.55. The business's 50-day moving average is $122.85 and its 200 day moving average is $118.61. The company has a market cap of $71.85 billion, a P/E ratio of 21.09, a PEG ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data 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. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%. The company's revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.87 EPS. Equities research analysts predict that Canadian National Railway Company will post 5.80 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 8th were issued a dividend of C$0.92 per share. The ex-dividend date was Tuesday, September 8th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.1%. Canadian National Railway's payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of research reports. Evercore raised Canadian National Railway from an "in-line" rating to an "outperform" rating and increased their price target for the company from $108.00 to $124.00 in a research note on Thursday, June 25th. Bank of America dropped their price objective on Canadian National Railway from $146.00 to $143.00 and set a "buy" rating on the stock in a research note on Wednesday, September 23rd. Susquehanna dropped their price objective on Canadian National Railway from $142.00 to $130.00 and set a "neutral" rating on the stock in a research note on Friday, October 2nd. Argus restated a "hold" rating on shares of Canadian National Railway in a report on Monday, August 31st. Finally, Weiss Ratings raised Canadian National Railway from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, Canadian National Railway presently has a consensus rating of "Moderate Buy" and an average price target of $137.49.

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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