Canadian National Railway Company $CNI Shares Sold by Wealthedge Investment Advisors LLC

Key Points

• Wealthedge Investment Advisors LLC reduced its stake in Canadian National Railway by 27.1%, selling 5,874 shares during the first quarter, resulting in holdings valued at $1,538,000.
• Despite a recent quarterly earnings miss with an EPS of $1.35 against a $1.37 estimate, Canadian National Railway announced an increased dividend of $0.6507 per share, up from $0.62.
• Several institutional investors have modified their positions in CNI, with Gulf International Bank UK Ltd increasing its stake by 2,758.6%, showcasing significant interest from investors.

Wealthedge Investment Advisors LLC decreased its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 27.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,780 shares of the transportation company's stock after selling 5,874 shares during the quarter. Wealthedge Investment Advisors LLC's holdings in Canadian National Railway were worth $1,538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CNI. Royal Bank of Canada lifted its stake in Canadian National Railway by 7.5% in the fourth quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock worth $2,817,616,000 after acquiring an additional 1,934,622 shares during the last quarter. Vanguard Group Inc. lifted its stake in Canadian National Railway by 0.8% in the first quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company's stock worth $2,254,370,000 after acquiring an additional 179,261 shares during the last quarter. Capital International Investors lifted its stake in Canadian National Railway by 12.8% in the fourth quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock worth $1,199,680,000 after acquiring an additional 1,341,133 shares during the last quarter. TD Asset Management Inc lifted its stake in Canadian National Railway by 0.3% in the first quarter. TD Asset Management Inc now owns 11,798,566 shares of the transportation company's stock worth $1,148,008,000 after acquiring an additional 30,066 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd lifted its stake in Canadian National Railway by 4.8% in the fourth quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock worth $926,573,000 after acquiring an additional 422,078 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Price Performance

CNI stock traded up $1.0730 during trading on Tuesday, hitting $94.2830. The stock had a trading volume of 2,086,295 shares, compared to its average volume of 1,501,446. The company's 50 day moving average price is $99.89 and its two-hundred day moving average price is $100.39. Canadian National Railway Company has a 1-year low of $91.65 and a 1-year high of $121.12. The stock has a market cap of $58.86 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 2.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results 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 during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the firm posted $1.84 EPS. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, sell-side analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.6507 per share. 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%. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's dividend payout ratio is currently 49.81%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNI. Citigroup cut 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 report on Wednesday, July 9th. Argus raised shares of Canadian National Railway to a "hold" rating in a report on Friday, June 27th. National Bank Financial cut shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada cut their price objective on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. reissued a "neutral" rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $118.36.

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.