Canadian National Railway (NYSE:CNI) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,082,231 shares of the transportation company’s stock after selling 25,407 shares during the period. Clearbridge Investments LLC owned 0.17% of Canadian National Railway worth $127,839,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Canadian National Railway during the 2nd quarter valued at approximately $26,000. Addison Advisors LLC grew its position in shares of Canadian National Railway by 159.1% during the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after acquiring an additional 148 shares during the last quarter. GAMMA Investing LLC increased 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 period. ORG Partners LLC bought a new stake in Canadian National Railway in the 2nd quarter valued at about $34,000. Finally, Daiwa Securities Group Inc. bought a new stake in Canadian National Railway in the 1st quarter valued at about $64,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Evercore ISI dropped their price target on shares of Canadian National Railway from $128.00 to $119.00 and set an “in-line” rating on the stock in a research note on Wednesday, September 25th. Stephens cut their target price 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. Bank of America decreased their price target on Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company lowered their price target on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Finally, Sanford C. Bernstein downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $146.25 to $130.67 in a report on Monday, July 8th. Sixteen equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and an average price target of $132.76.

Canadian National Railway Trading Down 0.0 %

Shares of NYSE CNI opened at $117.12 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The company has a market cap of $73.75 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.47 and a beta of 0.88. The business has a fifty day simple moving average of $115.56 and a 200-day simple moving average of $121.52.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. Sell-side analysts predict that Canadian National Railway will post 5.58 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were paid a dividend of $0.614 per share. This represents a $2.46 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.08%.

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.