Puzo Michael J Decreases Stock Holdings in Canadian National Railway Company $CNI

Key Points

• Puzo Michael J has decreased its stake in Canadian National Railway Company by 8.2%, owning 70,271 shares, valued at approximately $7.31 million after selling 6,318 shares in the second quarter.
• Analysts' ratings for CNI have fluctuated, with some brokerages cutting their ratings, while others like Raymond James Financial upgraded it from "market perform" to "outperform."
• Canadian National Railway announced a quarterly dividend increase to $0.6507 per share, reflecting a yield of 2.7% annualized, which supports a strong payout ratio of 50.19%.

Puzo Michael J reduced its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 8.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,271 shares of the transportation company's stock after selling 6,318 shares during the quarter. Canadian National Railway makes up 2.1% of Puzo Michael J's holdings, making the stock its 24th largest position. Puzo Michael J's holdings in Canadian National Railway were worth $7,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in CNI. Dagco Inc. purchased a new stake in shares of Canadian National Railway during the 1st quarter worth $32,000. Bruce G. Allen Investments LLC lifted its stake in shares of 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 worth $34,000 after purchasing an additional 106 shares during the last quarter. CX Institutional purchased a new stake in shares of Canadian National Railway during the 1st quarter worth $39,000. Brooklyn Investment Group lifted its stake in shares of Canadian National Railway by 354.3% during the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock worth $42,000 after purchasing an additional 333 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of 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 worth $58,000 after purchasing an additional 167 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CNI. National Bank Financial cut Canadian National Railway from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, July 23rd. Evercore ISI lowered Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 target price on the stock. in a research report on Wednesday, July 23rd. Raymond James Financial raised Canadian National Railway from a "market perform" rating to an "outperform" rating in a research report on Thursday, July 17th. Argus raised Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Finally, Bank of America reduced their target price on Canadian National Railway from $106.00 to $102.00 and set a "neutral" rating on the stock in a research report on Monday, September 29th. Two equities research 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $116.11.

Canadian National Railway Stock Up 0.3%

Shares of CNI stock opened at $96.87 on Wednesday. The stock's 50-day simple moving average is $94.42 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. The firm has a market capitalization of $60.14 billion, a PE ratio of 18.63, a P/E/G ratio of 2.16 and a beta of 0.96. Canadian National Railway Company has a fifty-two week low of $91.07 and a fifty-two week high of $116.79.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. Equities analysts expect that Canadian National Railway Company will post 5.52 earnings per share 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 issued a dividend of $0.6507 per share. This represents a $2.60 annualized dividend and a yield of 2.7%. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, September 8th. Canadian National Railway's dividend payout ratio is 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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