IFP Advisors Inc Sells 6,211 Shares of Canadian National Railway Company (NYSE:CNI)

Key Points

• IFP Advisors Inc reduced its stake in Canadian National Railway Company by 64.2%, selling 6,211 shares, leaving it with 3,467 shares worth approximately $338,000.
• Canadian National Railway recently declared a quarterly dividend of $0.6507, an increase from its previous dividend of $0.62, reflecting a 2.71% yield for investors.
• The company's stock price is currently around $95.87, down from its 1-year high of $121.12, with a market cap of $60.06 billion and an earnings report missing analysts' expectations.

IFP Advisors Inc decreased its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 64.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,467 shares of the transportation company's stock after selling 6,211 shares during the quarter. IFP Advisors Inc's holdings in Canadian National Railway were worth $338,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bruce G. Allen Investments LLC increased its holdings in Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after buying an additional 106 shares during the last quarter. CX Institutional bought a new stake in Canadian National Railway in the first quarter valued at about $39,000. Dunhill Financial LLC increased its holdings in Canadian National Railway by 1,020.0% in the fourth quarter. Dunhill Financial LLC now owns 560 shares of the transportation company's stock valued at $57,000 after buying an additional 510 shares during the last quarter. GAMMA Investing LLC increased its holdings in Canadian National Railway by 31.3% in the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock valued at $70,000 after buying an additional 171 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its holdings in Canadian National Railway by 57.8% in the first quarter. Creative Financial Designs Inc. ADV now owns 819 shares of the transportation company's stock valued at $80,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Price Performance

NYSE:CNI traded down $0.83 during mid-day trading on Monday, hitting $95.04. The company's stock had a trading volume of 1,545,932 shares, compared to its average volume of 1,476,375. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $121.12. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $59.54 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 2.13 and a beta of 0.97. The stock has a fifty day moving average of $103.72 and a 200-day moving average of $101.47.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings data 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). The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%. The business's quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 EPS. As a group, equities 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 declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be issued a $0.6507 dividend. 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 2.74%. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. Canadian National Railway's dividend payout ratio (DPR) is currently 49.81%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CNI shares. Citigroup dropped their price target on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Jefferies Financial Group cut their price objective on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Raymond James Financial raised shares of Canadian National Railway from a "market perform" rating to an "outperform" rating in a research note on Thursday, July 17th. Argus raised shares of Canadian National Railway to a "hold" rating in a research note on Friday, June 27th. Finally, Barclays dropped their price target 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $118.36.

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.