Canadian National Railway Company $CNI Shares Sold by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC lessened its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 18.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,722 shares of the transportation company’s stock after selling 13,171 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Canadian National Railway were worth $6,005,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bennett Selby Investments LP boosted its holdings in Canadian National Railway by 2.2% during the second quarter. Bennett Selby Investments LP now owns 4,796 shares of the transportation company’s stock worth $499,000 after buying an additional 101 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in shares of Canadian National Railway by 13.4% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 929 shares of the transportation company’s stock worth $97,000 after acquiring an additional 110 shares in the last quarter. IFP Advisors Inc grew its position in shares of Canadian National Railway by 3.3% during the 2nd quarter. IFP Advisors Inc now owns 3,582 shares of the transportation company’s stock valued at $373,000 after acquiring an additional 115 shares during the period. D.A. Davidson & CO. grew its position in shares of Canadian National Railway by 5.3% during the 2nd quarter. D.A. Davidson & CO. now owns 2,374 shares of the transportation company’s stock valued at $247,000 after acquiring an additional 119 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Canadian National Railway by 1.9% in the 2nd quarter. M&T Bank Corp now owns 6,629 shares of the transportation company’s stock valued at $690,000 after purchasing an additional 122 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNI has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Canadian National Railway in a research report on Wednesday, October 8th. Bank of America dropped their price target on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Citigroup upped their price objective on shares of Canadian National Railway from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Barclays dropped their target price on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 2nd. Finally, CIBC upgraded shares of Canadian National Railway from a “neutral” rating to an “outperformer” rating and upped their price target for the stock from $146.00 to $151.00 in a research report on Friday, November 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Canadian National Railway has a consensus rating of “Moderate Buy” and an average target price of $117.36.

Canadian National Railway Stock Down 0.1%

Shares of NYSE:CNI opened at $97.85 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 0.92. The business has a fifty day moving average of $95.60 and a two-hundred day moving average of $97.44. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $108.75. The stock has a market cap of $60.21 billion, a P/E ratio of 18.57, a PEG ratio of 2.21 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.05. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.72 EPS. On average, 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be issued a dividend of $0.8875 per share. The ex-dividend date is Tuesday, December 9th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s dividend payout ratio (DPR) is currently 48.01%.

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.