Sage Capital Advisors llc Acquires New Position in Canadian National Railway (NYSE:CNI)

Sage Capital Advisors llc bought a new position in Canadian National Railway (NYSE:CNI) (TSE:CNR) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,105 shares of the transportation company’s stock, valued at approximately $1,301,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cetera Advisor Networks LLC lifted its position in Canadian National Railway by 13.6% in the 4th quarter. Cetera Advisor Networks LLC now owns 34,798 shares of the transportation company’s stock valued at $4,372,000 after acquiring an additional 4,165 shares in the last quarter. Evercore Wealth Management LLC purchased a new position in shares of Canadian National Railway in the fourth quarter worth $258,000. Sei Investments Co. lifted its holdings in shares of Canadian National Railway by 3.0% during the fourth quarter. Sei Investments Co. now owns 366,740 shares of the transportation company’s stock valued at $46,074,000 after purchasing an additional 10,689 shares in the last quarter. Verition Fund Management LLC increased its holdings in Canadian National Railway by 123.3% in the 4th quarter. Verition Fund Management LLC now owns 57,252 shares of the transportation company’s stock worth $7,193,000 after buying an additional 31,613 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its position in Canadian National Railway by 7.1% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 474,586 shares of the transportation company’s stock valued at $59,622,000 after buying an additional 31,477 shares during the period. Institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CNI. Stifel Nicolaus lowered their target price on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Susquehanna decreased their target price on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Bank of America lowered shares of Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $129.00 to $122.00 in a research report on Friday, October 4th. Evercore ISI lowered their target price 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. Finally, Barclays increased their price target on 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. Sixteen analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $129.51.

Canadian National Railway Stock Performance

NYSE CNI opened at $113.44 on Wednesday. The stock has a market capitalization of $71.44 billion, a PE ratio of 18.09, 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 business has a 50 day simple moving average of $115.50 and a two-hundred day simple moving average of $121.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48.

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 the consensus estimate of $1.93 by ($0.09). The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 EPS. On average, research analysts predict that Canadian National Railway will post 5.58 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a dividend of $0.614 per share. This represents a $2.46 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Friday, September 6th. Canadian National Railway’s dividend payout ratio is 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.