HB Wealth Management LLC Reduces Holdings in Canadian National Railway Company $CNI

Key Points

• HB Wealth Management LLC has significantly reduced its holdings in Canadian National Railway Company by 57.3% during the 2nd quarter, now owning 5,110 shares valued at $532,000.
• The company recently reported earnings per share (EPS) of $1.35, missing the consensus estimate of $1.37, with revenue down 1.3% year-over-year.
• Canadian National Railway has increased its quarterly dividend to $0.6507 per share, representing a 2.7% yield and a payout ratio of 50.19%.

HB Wealth Management LLC reduced its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 57.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,110 shares of the transportation company's stock after selling 6,847 shares during the quarter. HB Wealth Management LLC's holdings in Canadian National Railway were worth $532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CNI. Dagco Inc. purchased a new position in Canadian National Railway during the 1st quarter valued at about $32,000. Bruce G. Allen Investments LLC increased its holdings in Canadian National Railway by 44.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after acquiring an additional 106 shares in the last quarter. CX Institutional purchased a new position in Canadian National Railway during the 1st quarter valued at about $39,000. Brooklyn Investment Group increased its holdings in Canadian National Railway by 354.3% during the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock valued at $42,000 after acquiring an additional 333 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Canadian National Railway by 42.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company's stock valued at $58,000 after acquiring an additional 167 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

CNI opened at $96.35 on Friday. The company's 50 day simple moving average is $94.36 and its 200 day simple moving average is $99.02. 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 Company has a 1 year low of $91.07 and a 1 year high of $116.79. The stock has a market capitalization of $59.81 billion, a PE ratio of 18.53, a P/E/G ratio of 2.15 and a beta of 0.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released 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 return on equity of 21.71% and a net margin of 26.63%.The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the prior year, the business posted $1.84 earnings per share. Canadian National Railway's revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 8th were 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 dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, September 8th. Canadian National Railway's dividend payout ratio is 50.19%.

Analysts Set New Price Targets

Several equities analysts have weighed in on CNI shares. Royal Bank Of Canada dropped their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a report on Wednesday, July 23rd. Argus raised shares of Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Citigroup decreased their price target on shares of 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. National Bank Financial cut shares of Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 23rd. Finally, Bank of America decreased their price target on shares of Canadian National Railway from $106.00 to $102.00 and set a "neutral" rating on the stock in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $116.69.

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.

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