Smithbridge Asset Management Inc. DE Sells 30,903 Shares of Canadian National Railway Company $CNI

Key Points

• Smithbridge Asset Management reduced its stake in Canadian National Railway by 55.3% in the first quarter, selling 30,903 shares and leaving it with 24,997 shares worth about $2.57 million.
• Canadian National Railway recently reported quarterly EPS of $1.31 and revenue of $3.15 billion, both in line with analyst expectations, while revenue dipped 0.5% year over year.
• The company paid a quarterly dividend of $0.915 per share and now yields about 3.1%; Wall Street remains broadly positive with a Moderate Buy consensus and an average price target of $126.12.

Smithbridge Asset Management Inc. DE cut its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 55.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,997 shares of the transportation company's stock after selling 30,903 shares during the period. Smithbridge Asset Management Inc. DE's holdings in Canadian National Railway were worth $2,569,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC grew its holdings in Canadian National Railway by 639,137.0% during the third quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company's stock worth $844,353,000 after purchasing an additional 8,954,310 shares during the period. Norges Bank bought a new stake in Canadian National Railway in the fourth quarter valued at approximately $570,161,000. FIL Ltd raised its stake in Canadian National Railway by 49.5% in the fourth quarter. FIL Ltd now owns 15,745,744 shares of the transportation company's stock valued at $1,557,309,000 after buying an additional 5,210,403 shares during the period. Quadrature Capital Ltd lifted its position in shares of Canadian National Railway by 1,693.5% in the third quarter. Quadrature Capital Ltd now owns 1,739,700 shares of the transportation company's stock valued at $164,043,000 after buying an additional 1,642,700 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Canadian National Railway by 6,329.2% in the fourth quarter. AQR Capital Management LLC now owns 1,234,030 shares of the transportation company's stock valued at $122,050,000 after buying an additional 1,214,836 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $119.92 on Thursday. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $122.48. The stock's 50 day moving average is $115.54 and its 200-day moving average is $107.51. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $72.75 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.24 and a beta of 0.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting the consensus estimate of $1.31. The business had revenue of $3.15 billion during the quarter, compared to analysts' expectations of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $1.85 EPS. Equities research analysts expect that Canadian National Railway Company will post 5.75 EPS for the current year.

Canadian National Railway Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.915 per share. The ex-dividend date was Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 3.1%. Canadian National Railway's dividend payout ratio (DPR) is presently 48.55%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CNI shares. Weiss Ratings raised Canadian National Railway from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, June 23rd. Citigroup raised their price target on Canadian National Railway from $123.00 to $124.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Evercore raised shares of Canadian National Railway from an "in-line" rating to an "outperform" rating and set a $124.00 price objective for the company in a research report on Thursday, June 25th. Sanford C. Bernstein upped their price objective on shares of Canadian National Railway from $113.88 to $117.36 and gave the company a "market perform" rating in a report on Tuesday, March 31st. Finally, Bank of America increased their price objective on shares of Canadian National Railway from $132.00 to $134.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $126.12.

Canadian National Railway Profile

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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