Barclays PLC Sells 23,124 Shares of Canadian National Railway (NYSE:CNI)

Barclays PLC trimmed its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 26.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,438 shares of the transportation company’s stock after selling 23,124 shares during the quarter. Barclays PLC’s holdings in Canadian National Railway were worth $7,667,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Addison Advisors LLC lifted its stake in shares of Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC raised its holdings in Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares during the period. Coastline Trust Co purchased a new stake in Canadian National Railway during the 3rd quarter valued at $34,000. Reston Wealth Management LLC bought a new stake in Canadian National Railway in the third quarter worth $41,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in Canadian National Railway during the third quarter worth $56,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

CNI opened at $101.40 on Thursday. The company has a market capitalization of $63.79 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.43 and a beta of 0.89. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. Canadian National Railway has a 12-month low of $101.40 and a 12-month high of $134.02. The business’s fifty day simple moving average is $109.94 and its 200-day simple moving average is $114.81.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the business earned $1.26 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Canadian National Railway will post 5.31 earnings per share for the current fiscal 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 issued a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a yield of 2.41%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is 38.14%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Stifel Nicolaus raised their price objective on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein cut their target price on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Evercore ISI reduced their price target on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a report on Wednesday, October 23rd. Finally, Susquehanna dropped their price objective on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $125.86.

Canadian National Railway 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.