Canadian National Railway (NYSE:CNI) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. cut its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 45.5% during the third quarter, Holdings Channel reports. The institutional investor owned 998 shares of the transportation company’s stock after selling 833 shares during the period. Brown Brothers Harriman & Co.’s holdings in Canadian National Railway were worth $117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Canadian National Railway during the 2nd quarter worth approximately $26,000. Addison Advisors LLC raised its stake in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after acquiring an additional 148 shares in the last quarter. Fortitude Family Office LLC lifted its position in Canadian National Railway by 738.7% in the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 229 shares during the last quarter. ORG Partners LLC acquired a new position in Canadian National Railway in the second quarter valued at $34,000. Finally, Coastline Trust Co purchased a new position in shares of Canadian National Railway during the third quarter worth about $34,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Up 1.5 %

Shares of NYSE:CNI opened at $111.26 on Friday. Canadian National Railway has a fifty-two week low of $105.28 and a fifty-two week high of $134.02. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The firm’s 50-day simple moving average is $112.50 and its 200-day simple moving average is $116.80. The company has a market cap of $70.07 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.48 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. As a group, equities research analysts predict that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is presently 39.90%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Susquehanna reduced their target price on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Evercore ISI reduced their price objective on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their target price for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and reduced their price target for the company from $129.00 to $122.00 in a research report on Friday, October 4th. Finally, Veritas upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $125.86.

About Canadian National Railway

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.