Canadian National Railway Company $CNI Stock: Value Partners Investments Inc. Trims Holdings

Key Points

• Value Partners Investments cut its Canadian National Railway holdings by 23.1% in the third quarter, selling 140,380 shares and retaining 467,268 shares worth approximately $55.8 million. Institutional investors collectively own 80.74% of the company.
• Analyst sentiment remains moderately bullish, with nine Buy and nine Hold ratings and a consensus price target of $137.49. Recent target changes ranged from $124 to $205.
• CNI shares recently traded at $120.12, while the company reported quarterly earnings of $1.50 per share and revenue of $3.35 billion, beating estimates. It also pays an annualized dividend of C$3.66, yielding about 3.0%.

Value Partners Investments Inc. lessened its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 23.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 467,268 shares of the transportation company's stock after selling 140,380 shares during the quarter. Canadian National Railway accounts for approximately 3.8% of Value Partners Investments Inc.'s portfolio, making the stock its 11th largest position. Value Partners Investments Inc. owned about 0.08% of Canadian National Railway worth $55,790,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gold Investment Management Ltd. increased its position in shares of Canadian National Railway by 1.0% during the third quarter. Gold Investment Management Ltd. now owns 57,181 shares of the transportation company's stock valued at $6,806,000 after acquiring an additional 552 shares during the last quarter. Brown Lisle Cummings Inc. boosted its position in Canadian National Railway by 0.8% in the third quarter. Brown Lisle Cummings Inc. now owns 55,358 shares of the transportation company's stock worth $6,582,000 after purchasing an additional 430 shares during the last quarter. Birch Hill Investment Advisors LLC purchased a new position in Canadian National Railway in the third quarter worth $314,000. TD Waterhouse Canada Inc. grew its stake in Canadian National Railway by 5.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 4,546,356 shares of the transportation company's stock valued at $532,519,000 after purchasing an additional 248,401 shares during the period. Finally, Triasima Portfolio Management inc. grew its position in Canadian National Railway by 35.6% during the third quarter. Triasima Portfolio Management inc. now owns 145,653 shares of the transportation company's stock valued at $17,379,000 after buying an additional 38,233 shares during the period. 80.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNI. Royal Bank Of Canada lifted their price objective on Canadian National Railway from $195.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Citigroup dropped their price objective on Canadian National Railway from $151.00 to $143.00 and set a "buy" rating for the company in a report on Wednesday, October 7th. Evercore raised Canadian National Railway from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $108.00 to $124.00 in a research note on Thursday, June 25th. Susquehanna decreased their target price on Canadian National Railway from $142.00 to $130.00 and set a "neutral" rating for the company in a report on Friday, October 2nd. Finally, Wells Fargo & Company raised their price target 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 equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $137.49.

Canadian National Railway Price Performance

CNI stock traded down $1.67 during trading on Monday, reaching $120.12. The company's stock had a trading volume of 939,610 shares, compared to its average volume of 1,509,151. The company's fifty day moving average is $122.23 and its 200-day moving average is $119.26. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $131.55. The company has a market capitalization of $72.38 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99.

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

Canadian National Railway Announces Dividend

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

Canadian National Railway Profile

Canadian National Railway Company NYSE: CNI is a transportation and logistics company that operates a major freight railway network across Canada and the United States. The company provides rail, intermodal and related transportation services for shippers, connecting production and consumption centers with ports and distribution hubs.

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

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