PCJ Investment Counsel Ltd. Lowers Holdings in Canadian National Railway Company $CNI

Key Points

• PCJ Investment Counsel Ltd. reduced its stake in Canadian National Railway by 39.7% in Q3, selling 16,470 shares and retaining 24,990 shares valued at $2.356 million.
• CN reported Q results with EPS $1.49 (beat $1.43 consensus) while revenue was $3.24B versus a $4.43B consensus, and the company posted a return on equity of 22.14% and a net margin of 27.28%.
• CN raised its quarterly dividend to $0.915 (annualized $3.66, ~3.4% yield), ex-dividend March 10/payable March 31, and analysts hold a consensus "Moderate Buy" rating with an average target of $118.91.

PCJ Investment Counsel Ltd. reduced its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 39.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,990 shares of the transportation company's stock after selling 16,470 shares during the period. PCJ Investment Counsel Ltd.'s holdings in Canadian National Railway were worth $2,356,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in Canadian National Railway by 10.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the transportation company's stock valued at $116,000 after purchasing an additional 113 shares in the last quarter. ICW Investment Advisors LLC increased its stake in Canadian National Railway by 0.7% in the third quarter. ICW Investment Advisors LLC now owns 16,525 shares of the transportation company's stock valued at $1,558,000 after purchasing an additional 120 shares during the last quarter. M&T Bank Corp increased its stake in Canadian National Railway by 1.9% in the second quarter. M&T Bank Corp now owns 6,629 shares of the transportation company's stock valued at $690,000 after purchasing an additional 122 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in Canadian National Railway by 1.9% during the third quarter. Foundations Investment Advisors LLC now owns 7,014 shares of the transportation company's stock worth $661,000 after purchasing an additional 128 shares in the last quarter. Finally, MAI Capital Management lifted its position in shares of Canadian National Railway by 5.0% during the 2nd quarter. MAI Capital Management now owns 2,933 shares of the transportation company's stock worth $305,000 after buying an additional 139 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 1.4%

Shares of CNI stock opened at $106.42 on Wednesday. The business's fifty day moving average price is $103.30 and its 200 day moving average price is $98.37. The firm has a market capitalization of $65.25 billion, a PE ratio of 19.60, a P/E/G ratio of 2.24 and a beta of 0.90. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $113.08.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.06. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.Canadian National Railway's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 earnings per share. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 3.4%. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, March 10th. Canadian National Railway's dividend payout ratio (DPR) is 46.59%.

Wall Street Analysts Forecast Growth

CNI has been the topic of several research analyst reports. Barclays cut their price target on shares of Canadian National Railway from $140.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Monday, February 2nd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Canadian National Railway in a report on Monday, February 2nd. Stephens cut their target price on Canadian National Railway from $105.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Monday, February 2nd. Vertical Research raised Canadian National Railway from a "hold" rating to a "buy" rating in a report on Monday, January 5th. Finally, Zacks Research raised Canadian National Railway from a "strong sell" rating to a "hold" rating in a research report on Friday, November 28th. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.91.

About Canadian National Railway

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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