Canadian National Railway Company (NYSE:CNI) Position Trimmed by Farrow Financial Inc.

Key Points

• Farrow Financial Inc. reduced its holdings in Canadian National Railway Company by 17.1%, selling 3,251 shares and owning 15,729 shares valued at approximately $1.53 million as of the end of the last quarter.
• Institutional investors control 80.74% of Canadian National Railway's shares, with firms like Royal Bank of Canada and Capital International Investors increasing their positions significantly in the recent quarters.
• Canadian National Railway announced a dividend increase to $0.6507 per share, marking an annual yield of 2.8%, with the ex-dividend date set for September 8th.

Farrow Financial Inc. lessened its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 17.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,729 shares of the transportation company's stock after selling 3,251 shares during the quarter. Farrow Financial Inc.'s holdings in Canadian National Railway were worth $1,533,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Scotia Capital Inc. lifted its stake in Canadian National Railway by 5.8% in the first quarter. Scotia Capital Inc. now owns 3,186,189 shares of the transportation company's stock valued at $308,925,000 after buying an additional 173,331 shares during the last quarter. Cheviot Value Management LLC bought a new stake in Canadian National Railway in the first quarter valued at $143,000. Bank of Nova Scotia lifted its stake in Canadian National Railway by 0.7% in the first quarter. Bank of Nova Scotia now owns 2,777,564 shares of the transportation company's stock valued at $270,334,000 after buying an additional 20,534 shares during the last quarter. Forge First Asset Management Inc. lifted its stake in Canadian National Railway by 29.7% in the first quarter. Forge First Asset Management Inc. now owns 229,300 shares of the transportation company's stock valued at $22,345,000 after buying an additional 52,500 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Canadian National Railway by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 69,430 shares of the transportation company's stock valued at $6,767,000 after buying an additional 910 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CNI shares. Citigroup cut their target price on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Stephens lifted their price objective on shares of Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Barclays cut 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 note on Wednesday, July 23rd. Evercore ISI cut shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price objective on the stock. in a research note on Wednesday, July 23rd. Finally, Stifel Nicolaus cut their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, ten have given 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, the company has a consensus rating of "Hold" and an average target price of $118.36.

Canadian National Railway Trading Up 0.1%

CNI stock traded up $0.09 during mid-day trading on Friday, reaching $92.58. 933,704 shares of the stock traded hands, compared to its average volume of 1,836,612. Canadian National Railway Company has a 52-week low of $91.65 and a 52-week high of $121.12. The stock's fifty day moving average is $101.33 and its 200-day moving average is $100.96. The company has a market cap of $58.00 billion, a P/E ratio of 17.80, a P/E/G ratio of 2.06 and a beta of 0.94. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $4.34 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The firm's revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be given a dividend of $0.6507 per share. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 2.8%. Canadian National Railway's payout ratio is presently 49.81%.

About Canadian National Railway

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.