Northstar Asset Management Inc. Sells 9,066 Shares of Canadian National Railway Company $CNI

Key Points

• Northstar Asset Management cut its Canadian National Railway stake by 11.3%, selling 9,066 shares during the second quarter and retaining 71,406 shares valued at approximately $8.5 million.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $137.40; recent targets range as high as $205.
• Canadian National Railway exceeded quarterly earnings and revenue expectations, reporting $1.50 in EPS and $3.35 billion in revenue. The company also announced a quarterly dividend of $0.915 per share, representing a 2.9% yield.

Northstar Asset Management Inc. reduced its position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 11.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,406 shares of the transportation company's stock after selling 9,066 shares during the period. Canadian National Railway accounts for about 2.5% of Northstar Asset Management Inc.'s investment portfolio, making the stock its 13th biggest position. Northstar Asset Management Inc.'s holdings in Canadian National Railway were worth $8,514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. purchased a new stake in Canadian National Railway during the second quarter valued at $27,000. Curio Wealth LLC purchased a new position in shares of Canadian National Railway in the 4th quarter worth $31,000. MidFirst Bank bought a new stake in shares of Canadian National Railway in the 4th quarter worth about $31,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Canadian National Railway by 378.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company's stock worth $35,000 after buying an additional 280 shares during the last quarter. Finally, MBM Wealth Consultants LLC bought a new stake in shares of Canadian National Railway in the 1st quarter worth about $37,000. 80.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CNI shares. Bank of America raised their price objective on Canadian National Railway from $132.00 to $134.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Citizens Jmp assumed coverage on Canadian National Railway in a research report on Wednesday, July 15th. They set a "market perform" rating on the stock. Wells Fargo & Company increased their price target on Canadian National Railway from $135.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, July 27th. Royal Bank Of Canada raised their price target on Canadian National Railway from $195.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Finally, Weiss Ratings raised shares of Canadian National Railway from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.40.

Canadian National Railway Trading Down 0.5%

Shares of CNI opened at $125.89 on Friday. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $131.55. The company has a 50-day moving average of $125.18 and a 200 day moving average of $115.59. The firm has a market capitalization of $76.18 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.35 and a beta of 0.95. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.11. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the firm earned $1.87 EPS. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts expect that Canadian National Railway Company will post 5.81 EPS for the current year.

Canadian National Railway Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 8th. Canadian National Railway's dividend payout ratio is currently 47.34%.

Canadian National Railway Profile

Canadian National Railway Company NYSE: CNI is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN's core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.

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