Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 6,449 Shares of Canadian National Railway (NYSE:CNI)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,463,156 shares of the transportation company’s stock after selling 6,449 shares during the quarter. Canadian National Railway accounts for approximately 1.4% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 23rd largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.23% of Canadian National Railway worth $162,147,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CNI. Manning & Napier Advisors LLC bought a new position in shares of Canadian National Railway in the second quarter valued at $134,096,000. Koshinski Asset Management Inc. purchased a new position in shares of Canadian National Railway during the first quarter valued at approximately $627,000. Sterling Investment Management LLC grew its holdings in Canadian National Railway by 17.2% during the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock worth $4,250,000 after buying an additional 5,329 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in Canadian National Railway in the 1st quarter valued at $4,451,000. Finally, Sumitomo Life Insurance Co. bought a new position in Canadian National Railway during the 2nd quarter valued at $1,321,000. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CNI shares. The Goldman Sachs Group cut their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Stephens reiterated an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Evercore ISI reduced their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research report on Wednesday, October 23rd. Susquehanna dropped their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $125.18.

Canadian National Railway Price Performance

NYSE CNI traded up $0.03 during trading hours on Wednesday, hitting $110.32. The company had a trading volume of 49,498 shares, compared to its average volume of 1,107,342. The firm has a 50 day simple moving average of $115.81 and a 200 day simple moving average of $119.11. Canadian National Railway has a 52 week low of $105.17 and a 52 week high of $134.02. The firm has a market capitalization of $69.37 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.49 and a beta of 0.88. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm posted $1.26 EPS. Canadian National Railway’s revenue was up 3.1% on a year-over-year basis. Equities research analysts expect that Canadian National Railway will post 5.54 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 paid a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a yield of 2.21%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is 39.90%.

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.