Notis McConarty Edward Trims Holdings in Canadian National Railway Company $CNI

Key Points

• Notis McConarty Edward reduced its holdings in Canadian National Railway Company by 17.8%, owning 33,457 shares valued at approximately $3.48 million at the end of the second quarter.
• Canadian National Railway's stock has been rated with a majority of "Buy" ratings, despite a recent downgrade in target prices from analysts.
• The company increased its quarterly dividend from $0.62 to $0.6507, representing a yield of 2.7% and a payout ratio of 50.19%.

Notis McConarty Edward lessened its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 17.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,457 shares of the transportation company's stock after selling 7,221 shares during the period. Canadian National Railway comprises approximately 1.7% of Notis McConarty Edward's holdings, making the stock its 23rd largest holding. Notis McConarty Edward's holdings in Canadian National Railway were worth $3,481,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dagco Inc. purchased a new position in Canadian National Railway during the 1st quarter valued at about $32,000. 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 purchasing an additional 333 shares during the period. 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 purchasing an additional 167 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Canadian National Railway by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock valued at $70,000 after purchasing an additional 171 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Susquehanna reduced their target price on Canadian National Railway from $120.00 to $115.00 and set a "positive" rating on the stock in a report on Thursday, September 25th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Canadian National Railway in a report on Wednesday. Evercore ISI downgraded Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 target price on the stock. in a report on Wednesday, July 23rd. Citigroup reduced their target price on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating on the stock in a report on Wednesday, July 9th. Finally, Raymond James Financial upgraded Canadian National Railway from a "market perform" rating to an "outperform" rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $114.30.

Canadian National Railway Stock Performance

Shares of CNI opened at $96.37 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The business's 50 day moving average price is $94.47 and its 200-day moving average price is $99.00. Canadian National Railway Company has a 52 week low of $91.07 and a 52 week high of $116.79. The stock has a market cap of $59.83 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.18 and a beta of 0.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 earnings per share. Equities research analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 8th. This represents a $2.60 annualized dividend and a yield of 2.7%. Canadian National Railway's payout ratio is currently 50.19%.

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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