Vanguard Group Inc. Decreases Position in Canadian National Railway (NYSE:CNI)

Vanguard Group Inc. reduced its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,390,060 shares of the transportation company’s stock after selling 5,341 shares during the period. Vanguard Group Inc. owned 3.51% of Canadian National Railway worth $2,948,995,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CNI. American Century Companies Inc. raised its stake in Canadian National Railway by 6.2% in the 3rd quarter. American Century Companies Inc. now owns 84,920 shares of the transportation company’s stock valued at $9,196,000 after purchasing an additional 4,986 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of Canadian National Railway by 20.1% in the fourth quarter. Whittier Trust Co. now owns 3,495 shares of the transportation company’s stock worth $439,000 after buying an additional 585 shares in the last quarter. Wealthsource Partners LLC boosted its position in Canadian National Railway by 2.7% during the fourth quarter. Wealthsource Partners LLC now owns 19,085 shares of the transportation company’s stock worth $2,398,000 after acquiring an additional 505 shares during the last quarter. LVW Advisors LLC purchased a new stake in Canadian National Railway during the 4th quarter valued at about $369,000. Finally, Stokes Capital Advisors LLC raised its holdings in Canadian National Railway by 6.0% in the 4th quarter. Stokes Capital Advisors LLC now owns 50,797 shares of the transportation company’s stock valued at $6,382,000 after acquiring an additional 2,896 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CNI. Wells Fargo & Company started coverage on Canadian National Railway in a report on Friday, June 7th. They set an “equal weight” rating and a $130.00 target price on the stock. StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Barclays dropped their price objective on shares of Canadian National Railway from $130.00 to $128.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Finally, Stifel Nicolaus raised their price objective on shares of Canadian National Railway from $134.00 to $137.00 and gave the stock a “hold” rating in a research report on Wednesday. Eighteen research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $148.08.

Canadian National Railway Trading Down 0.4 %

CNI traded down $0.44 during mid-day trading on Friday, hitting $120.67. 705,019 shares of the stock were exchanged, compared to its average volume of 1,247,766. The firm’s fifty day moving average is $122.19 and its two-hundred day moving average is $125.77. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The company has a market cap of $76.31 billion, a PE ratio of 19.25, a PEG ratio of 2.29 and a beta of 0.89. 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 (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.01. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. Equities analysts forecast that Canadian National Railway will post 5.84 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, June 7th. Canadian National Railway’s dividend payout ratio is currently 39.39%.

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.