Canadian National Railway (NYSE:CNI) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. decreased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,075 shares of the transportation company’s stock after selling 189 shares during the period. Salem Investment Counselors Inc.’s holdings in Canadian National Railway were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNI. National Bank of Canada FI grew its position in shares of Canadian National Railway by 46.5% in the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after purchasing an additional 2,137,948 shares during the period. Point72 Asset Management L.P. acquired a new stake in Canadian National Railway in the 3rd quarter worth about $159,907,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Canadian National Railway by 4,614.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after buying an additional 1,307,689 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Canadian National Railway by 4.4% during the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after acquiring an additional 790,420 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Canadian National Railway by 7.8% in the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after acquiring an additional 674,536 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Sanford C. Bernstein reduced their price objective on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group decreased 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 research note on Wednesday, October 9th. Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Friday. Wells Fargo & Company lowered their target price on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $174.00 price target on shares of Canadian National Railway in a report on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway presently has an average rating of “Moderate Buy” and a consensus target price of $125.77.

Canadian National Railway Trading Up 0.2 %

Shares of CNI stock opened at $100.18 on Tuesday. Canadian National Railway has a 1-year low of $98.96 and a 1-year high of $134.02. The firm has a market cap of $63.00 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 2.43 and a beta of 0.91. The company has a 50-day moving average of $106.26 and a two-hundred day moving average of $112.30. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data 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 firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the company posted $1.26 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts predict that Canadian National Railway will post 5.31 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a yield of 2.44%. The ex-dividend date was Monday, December 9th. Canadian National Railway’s payout ratio is 38.14%.

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.