Canadian National Railway (NYSE:CNI) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,120 shares of the transportation company’s stock after selling 147 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Canadian National Railway were worth $366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cerity Partners LLC boosted its holdings in Canadian National Railway by 25.1% in the 3rd quarter. Cerity Partners LLC now owns 123,445 shares of the transportation company’s stock valued at $14,462,000 after purchasing an additional 24,753 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Canadian National Railway in the 3rd quarter worth approximately $856,000. Citigroup Inc. lifted its holdings in shares of Canadian National Railway by 3.4% in the 3rd quarter. Citigroup Inc. now owns 114,124 shares of the transportation company’s stock worth $13,379,000 after acquiring an additional 3,774 shares during the last quarter. Raymond James Trust N.A. acquired a new position in shares of Canadian National Railway in the 3rd quarter worth approximately $261,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Canadian National Railway by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,368,496 shares of the transportation company’s stock worth $160,419,000 after acquiring an additional 66,531 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Trading Up 1.5 %

Shares of NYSE:CNI opened at $111.26 on Friday. Canadian National Railway has a 52 week low of $105.28 and a 52 week high of $134.02. The company’s 50 day moving average is $112.50 and its two-hundred day moving average is $116.80. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The company has a market cap of $70.07 billion, a PE ratio of 17.83, a P/E/G ratio of 2.48 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. Equities analysts predict that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is 39.90%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Sanford C. Bernstein decreased their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. Stifel Nicolaus upped their price objective on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price on the stock in a research note on Monday, October 7th. Barclays upped their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Stephens reaffirmed 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. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of “Hold” and a consensus price target of $125.86.

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.