Canadian National Railway (NYSE:CNI) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. trimmed its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 24.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 464 shares of the transportation company’s stock after selling 150 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Canadian National Railway were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Bfsg LLC boosted its holdings in Canadian National Railway by 110.5% during the first quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after buying an additional 105 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Canadian National Railway during the 2nd quarter worth $26,000. GAMMA Investing LLC grew its holdings in shares of Canadian National Railway by 766.7% in the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after acquiring an additional 207 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Canadian National Railway during the second quarter worth $34,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Canadian National Railway during the first quarter valued at $64,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Stephens dropped their price target on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Barclays cut their price target on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Susquehanna decreased their price objective on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Stifel Nicolaus cut their target price on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Finally, StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Sixteen investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $138.35.

Canadian National Railway Stock Down 1.1 %

Canadian National Railway stock opened at $115.37 on Friday. The company has a market capitalization of $72.96 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.41 and a beta of 0.88. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The firm’s fifty day simple moving average is $116.24 and its 200-day simple moving average is $123.02. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. Canadian National Railway’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.31 EPS. Sell-side analysts forecast that Canadian National Railway will post 5.64 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 Friday, September 27th. Shareholders of record on Friday, September 6th will be given a dividend of $0.614 per share. The ex-dividend date is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a yield of 2.13%. Canadian National Railway’s payout ratio is currently 39.07%.

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.