Great Lakes Advisors LLC Sells 6,969 Shares of Canadian National Railway Company $CNI

Key Points

• Great Lakes Advisors LLC reduced its stake in Canadian National Railway by 4.3%, leaving it with 154,093 shares valued at approximately $15 million.
• The company's latest earnings report showed a miss on earnings per share, reporting $1.35 against an estimate of $1.37 and a revenue of $3.14 billion compared to analyst expectations of $4.34 billion.
• Canadian National Railway recently increased its quarterly dividend to $0.6507 per share, which represents an annualized yield of 2.7% and reflects a positive change from the previous dividend of $0.62.

Great Lakes Advisors LLC decreased its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 154,093 shares of the transportation company's stock after selling 6,969 shares during the period. Great Lakes Advisors LLC's holdings in Canadian National Railway were worth $15,018,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CNI. Baird Financial Group Inc. grew its position in shares of Canadian National Railway by 10.8% during the fourth quarter. Baird Financial Group Inc. now owns 16,478 shares of the transportation company's stock valued at $1,673,000 after purchasing an additional 1,605 shares in the last quarter. Focus Partners Wealth grew its position in shares of Canadian National Railway by 6.7% during the fourth quarter. Focus Partners Wealth now owns 10,368 shares of the transportation company's stock valued at $1,078,000 after purchasing an additional 655 shares in the last quarter. Gotham Asset Management LLC purchased a new position in shares of Canadian National Railway during the fourth quarter valued at about $789,000. Lighthouse Investment Partners LLC purchased a new position in shares of Canadian National Railway during the fourth quarter valued at about $508,000. Finally, Logan Capital Management Inc. purchased a new position in shares of Canadian National Railway during the fourth quarter valued at about $1,784,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen upgraded Canadian National Railway from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Royal Bank Of Canada dropped 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. Barclays dropped their price target on Canadian National Railway from $106.00 to $99.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 23rd. Wells Fargo & Company dropped their price target 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. Finally, Evercore ISI lowered Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target for the company. in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $118.36.

Canadian National Railway Trading Down 0.5%

Shares of NYSE:CNI traded down $0.43 during trading hours on Friday, hitting $93.50. 1,232,979 shares of the company's stock traded hands, compared to its average volume of 1,535,892. Canadian National Railway Company has a 1 year low of $91.07 and a 1 year high of $121.12. The business has a fifty day moving average price of $96.93 and a 200-day moving average price of $99.57. The firm has a market capitalization of $58.37 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 2.12 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 (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 (EPS) 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 business had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same quarter last year, the firm earned $1.84 EPS. The firm's quarterly revenue was down 1.3% on a year-over-year basis. Equities 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be given a dividend of $0.6507 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.8%. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 8th. Canadian National Railway's dividend payout ratio (DPR) is presently 50.19%.

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.