Mission Wealth Management LP Decreases Stock Holdings in Canadian National Railway (NYSE:CNI)

Mission Wealth Management LP lowered its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 9,322 shares of the transportation company’s stock after selling 129 shares during the quarter. Mission Wealth Management LP’s holdings in Canadian National Railway were worth $1,228,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bfsg LLC increased its holdings in Canadian National Railway by 110.5% in the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after buying an additional 105 shares during the period. GAMMA Investing LLC lifted its position in shares of Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after buying an additional 207 shares in the last quarter. Keener Financial Planning LLC purchased a new position in shares of Canadian National Railway during the 4th quarter valued at approximately $46,000. Rational Advisors LLC purchased a new position in Canadian National Railway in the 1st quarter valued at $49,000. Finally, Knuff & Co LLC purchased a new position in Canadian National Railway in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CNI. Stifel Nicolaus lifted their price target on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Barclays lifted their target price on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Jefferies Financial Group assumed coverage on Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 price objective for the company. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company initiated coverage on Canadian National Railway in a research note on Friday, June 7th. They set an “equal weight” rating and a $130.00 target price for the company. Eighteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $148.95.

Canadian National Railway Stock Down 1.0 %

CNI stock traded down $1.17 during midday trading on Friday, hitting $117.92. 517,674 shares of the company’s stock were exchanged, compared to its average volume of 1,340,843. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The firm has a 50 day moving average price of $123.06 and a 200-day moving average price of $126.08. The stock has a market capitalization of $74.82 billion, a price-to-earnings ratio of 18.81, a price-to-earnings-growth ratio of 2.09 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.16 billion. On average, analysts anticipate that Canadian National Railway will post 5.89 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, June 7th. Canadian National Railway’s dividend payout ratio is presently 39.08%.

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.