Sienna Gestion Lowers Holdings in Canadian National Railway Company (NYSE:CNI)

Key Points

• Sienna Gestion reduced its stake in Canadian National Railway Company by 6.0%, holding 49,800 shares valued at approximately $4.71 million after selling 3,200 shares.
• Barclays lowered its target price for CNI from $106.00 to $99.00, while Wells Fargo cut it from $120.00 to $117.00, indicating a cautious outlook for the stock.
• Canadian National Railway announced a quarterly dividend of $0.6507, reflecting an increase from its previous dividend and representing an annualized yield of 2.8%.

Sienna Gestion lessened its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 6.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,800 shares of the transportation company's stock after selling 3,200 shares during the period. Sienna Gestion's holdings in Canadian National Railway were worth $4,710,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CNI. Polar Asset Management Partners Inc. lifted its position in Canadian National Railway by 233.3% in the 4th quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company's stock valued at $2,537,000 after acquiring an additional 17,500 shares in the last quarter. Cypress Asset Management Inc. TX purchased a new position in shares of Canadian National Railway during the fourth quarter valued at about $875,000. GAMMA Investing LLC grew its position in shares of Canadian National Railway by 31.3% during the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock valued at $70,000 after purchasing an additional 171 shares in the last quarter. Principal Financial Group Inc. grew its position in Canadian National Railway by 3.7% in the first quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company's stock worth $9,185,000 after acquiring an additional 3,400 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Canadian National Railway by 60.6% in the first quarter. SG Americas Securities LLC now owns 9,729 shares of the transportation company's stock worth $948,000 after acquiring an additional 3,671 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Performance

Shares of CNI traded up $0.57 during trading hours on Friday, reaching $93.33. 1,103,725 shares of the company traded hands, compared to its average volume of 1,950,208. The stock has a market capitalization of $58.26 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.08 and a beta of 0.94. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. Canadian National Railway Company has a 12-month low of $91.65 and a 12-month high of $121.12. The business has a fifty day moving average price of $100.12 and a 200-day moving average price of $100.50.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The business had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. During the same period in the previous year, the company posted $1.84 earnings per share. Canadian National Railway's revenue for the quarter was down 1.3% compared to the same quarter last year. Equities analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be issued a $0.6507 dividend. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a yield of 2.8%. Canadian National Railway's dividend payout ratio is currently 49.81%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Canadian National Railway in a report on Wednesday, July 23rd. Bank of America boosted their price objective on shares of Canadian National Railway from $105.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wells Fargo & Company reduced their price target on Canadian National Railway from $120.00 to $117.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Evercore ISI downgraded Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price target on the stock. in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reduced their price target on Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway currently has a consensus rating of "Hold" and an average target price of $118.36.

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.