Canadian National Railway (NYSE:CNI) Stake Lessened by Whittier Trust Co.

Whittier Trust Co. lowered its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 69.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,254 shares of the transportation company’s stock after selling 2,814 shares during the period. Whittier Trust Co.’s holdings in Canadian National Railway were worth $147,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Canadian National Railway in the second quarter valued at $134,096,000. Koshinski Asset Management Inc. acquired a new position in shares of Canadian National Railway in the first quarter worth $627,000. Mediolanum International Funds Ltd acquired a new position in shares of Canadian National Railway in the first quarter worth $4,451,000. Sterling Investment Management LLC increased its stake in shares of Canadian National Railway by 17.2% in the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock worth $4,250,000 after acquiring an additional 5,329 shares during the last quarter. Finally, Sumitomo Life Insurance Co. acquired a new position in shares of Canadian National Railway in the second quarter worth $1,321,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Down 1.0 %

Shares of NYSE:CNI opened at $110.83 on Friday. The company has a market cap of $69.80 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.50 and a beta of 0.88. The stock’s 50-day moving average is $116.02 and its 200-day moving average is $119.72. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. Equities research analysts predict that Canadian National Railway will post 5.5 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is presently 39.26%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNI. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. Citigroup upped their price target on shares of Canadian National Railway from $125.00 to $126.00 and gave the stock a “neutral” rating in a research note on Thursday. Evercore ISI dropped their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a research note on Wednesday. Stephens reaffirmed an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a research note on Wednesday. Finally, Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Thursday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Canadian National Railway has a consensus rating of “Hold” and an average target price of $125.18.

Canadian National Railway 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.