Cumberland Partners Ltd Sells 175,361 Shares of Canadian National Railway Company (NYSE:CNI)

Key Points

• Cumberland Partners Ltd reduced its holdings in Canadian National Railway Company by 62.8%, now owning 103,754 shares valued at approximately $10.10 million.
• Canadian National Railway's stock recently declined by 0.7% and has a current market capitalization of $58.15 billion.
• The company announced an increase in its quarterly dividend to $0.6507 per share, reflecting a 2.8% annualized dividend yield.

Cumberland Partners Ltd trimmed its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 62.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,754 shares of the transportation company's stock after selling 175,361 shares during the quarter. Canadian National Railway comprises 0.8% of Cumberland Partners Ltd's portfolio, making the stock its 29th biggest holding. Cumberland Partners Ltd's holdings in Canadian National Railway were worth $10,101,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada grew its position in shares of Canadian National Railway by 7.5% during the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock worth $2,817,616,000 after buying an additional 1,934,622 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Canadian National Railway by 33.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock valued at $557,278,000 after purchasing an additional 1,380,554 shares during the period. Capital International Investors grew its position in shares of Canadian National Railway by 12.8% in the 4th quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock valued at $1,199,680,000 after purchasing an additional 1,341,133 shares during the period. Geode Capital Management LLC grew its position in shares of Canadian National Railway by 29.0% in the 4th quarter. Geode Capital Management LLC now owns 3,306,192 shares of the transportation company's stock valued at $340,987,000 after purchasing an additional 743,712 shares during the period. Finally, BLI Banque de Luxembourg Investments acquired a new position in shares of Canadian National Railway in the 4th quarter valued at approximately $70,283,000. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Price Performance

NYSE:CNI traded down $0.63 during trading hours on Friday, hitting $92.82. The company's stock had a trading volume of 2,049,316 shares, compared to its average volume of 1,824,892. The stock has a fifty day simple moving average of $102.49 and a 200-day simple moving average of $101.25. The company has a market capitalization of $58.15 billion, a P/E ratio of 17.85, a PEG ratio of 2.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $121.12.

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

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be given a $0.6507 dividend. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, September 8th. Canadian National Railway's dividend payout ratio is 49.81%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CNI. Stephens upped their price target on Canadian National Railway from $105.00 to $109.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Royal Bank Of Canada reduced their price target on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Argus upgraded Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Finally, Raymond James Financial upgraded Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $118.36.

Canadian National Railway 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.