Quantitative Investment Management LLC Sells 14,990 Shares of Canadian National Railway Company $CNI

Key Points

• Quantitative Investment Management LLC has reduced its holdings in Canadian National Railway by 78%, now owning just 4,217 shares valued at $410,000.
• Several other hedge funds have adjusted their positions, with 80.74% of the stock being owned by institutional investors.
• Canadian National Railway's recent quarterly earnings missed expectations, reporting $1.35 per share against a $1.37 consensus, alongside a revenue decline of 1.3% year-over-year.

Quantitative Investment Management LLC lessened its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 78.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,217 shares of the transportation company's stock after selling 14,990 shares during the period. Quantitative Investment Management LLC's holdings in Canadian National Railway were worth $410,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Royal Bank of Canada raised its position in shares of Canadian National Railway by 7.5% during the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock valued at $2,817,616,000 after acquiring an additional 1,934,622 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Canadian National Railway by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 23,165,939 shares of the transportation company's stock valued at $2,254,370,000 after acquiring an additional 179,261 shares during the last quarter. TD Asset Management Inc raised its position in shares of Canadian National Railway by 0.3% during the 1st quarter. TD Asset Management Inc now owns 11,798,566 shares of the transportation company's stock valued at $1,148,008,000 after acquiring an additional 30,066 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Canadian National Railway by 6.0% during the 1st quarter. 1832 Asset Management L.P. now owns 11,243,512 shares of the transportation company's stock valued at $1,095,793,000 after acquiring an additional 636,147 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd raised its position in shares of Canadian National Railway by 4.8% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 9,159,075 shares of the transportation company's stock valued at $926,573,000 after acquiring an additional 422,078 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on CNI shares. Susquehanna dropped their target price on shares of Canadian National Railway from $122.00 to $120.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Argus upgraded shares of Canadian National Railway to a "hold" rating in a research report on Friday, June 27th. Royal Bank Of Canada dropped their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Bank of America boosted their price target on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Citigroup lowered their price objective on shares of Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Canadian National Railway currently has an average rating of "Hold" and a consensus price target of $118.36.

Canadian National Railway Stock Up 0.8%

CNI stock traded up $0.75 during trading hours on Friday, reaching $96.85. 974,845 shares of the stock were exchanged, compared to its average volume of 1,636,694. The firm's 50-day moving average is $98.47 and its 200-day moving average is $99.97. The company has a market cap of $60.46 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 2.15 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. Canadian National Railway Company has a 12 month low of $91.65 and a 12 month high of $121.12.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The firm had revenue of $3.14 billion for 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%.Canadian National Railway's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the company posted $1.84 EPS. On average, equities research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.6507 per share. This is a boost from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a yield of 2.7%. Canadian National Railway's dividend payout ratio is currently 49.81%.

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.