Barnett & Company Inc. Sells 5,582 Shares of Canadian National Railway Company (NYSE:CNI)

Key Points

• Barnett & Company Inc. reduced its stake in Canadian National Railway by 34.9%, selling 5,582 shares, leaving them with a total of 10,422 shares worth $1,016,000.
• Canadian National Railway announced an increase in its quarterly dividend to $0.6507 per share, effective September 29th, from the previous $0.62.
• Analysts' consensus rating for Canadian National Railway is currently "Hold" with a target price of $118.36, reflecting mixed views on the stock's performance.

Barnett & Company Inc. trimmed its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 34.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,422 shares of the transportation company's stock after selling 5,582 shares during the period. Barnett & Company Inc.'s holdings in Canadian National Railway were worth $1,016,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CNI. Bruce G. Allen Investments LLC increased its position in shares of Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock worth $34,000 after purchasing an additional 106 shares during the last quarter. CX Institutional bought a new position in shares of Canadian National Railway in the first quarter worth approximately $39,000. Dunhill Financial LLC increased its position in shares of Canadian National Railway by 1,020.0% in the fourth quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock worth $57,000 after purchasing an additional 510 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Canadian National Railway by 31.3% in the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after purchasing an additional 171 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in shares of Canadian National Railway by 57.8% in the first quarter. Creative Financial Designs Inc. ADV now owns 819 shares of the transportation company's stock worth $80,000 after purchasing an additional 300 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Argus upgraded shares of Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Citigroup decreased their price objective on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Barclays decreased their price objective on shares of Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 23rd. Bank of America boosted their target price on Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company dropped their target price on Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway has a consensus rating of "Hold" and an average price target of $118.36.

Canadian National Railway Stock Down 1.3%

Canadian National Railway stock traded down $1.22 during trading hours on Thursday, hitting $92.67. 1,398,071 shares of the stock traded hands, compared to its average volume of 1,495,120. The firm's 50-day moving average price is $100.61 and its two-hundred day moving average price is $100.71. 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 $58.05 billion, a PE ratio of 17.82, a PEG ratio of 2.09 and a beta of 0.94. Canadian National Railway Company has a one year low of $91.65 and a one year high of $121.12.

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

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.6507 per share. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway's payout ratio is 50.19%.

Canadian National Railway Company Profile

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.