Gateway Investment Advisers LLC Reduces Holdings in Canadian National Railway (NYSE:CNI)

Gateway Investment Advisers LLC lessened its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 67.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,510 shares of the transportation company’s stock after selling 11,453 shares during the period. Gateway Investment Advisers LLC’s holdings in Canadian National Railway were worth $646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Canadian National Railway during the second quarter worth about $26,000. GAMMA Investing LLC lifted its stake in Canadian National Railway by 766.7% in the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after buying an additional 207 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Canadian National Railway by 159.1% in the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 148 shares during the period. ORG Partners LLC purchased a new position in shares of Canadian National Railway during the second quarter worth approximately $34,000. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Canadian National Railway in the 1st quarter valued at $64,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

NYSE:CNI opened at $115.84 on Monday. The stock has a market capitalization of $72.95 billion, a PE ratio of 18.56, a P/E/G ratio of 2.55 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 has a fifty day simple moving average of $115.54 and a 200 day simple moving average of $120.59. 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 business had revenue of $4.33 billion for 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% compared to the same quarter last year. During the same period last year, the firm earned $1.31 EPS. On average, research analysts expect that Canadian National Railway will post 5.54 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a dividend of $0.614 per share. The ex-dividend date was Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a yield of 2.12%. Canadian National Railway’s dividend payout ratio (DPR) is 39.26%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CNI shares. Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday. Stephens cut their price target on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Stifel Nicolaus decreased their target price on Canadian National Railway from $133.00 to $130.00 and set a “hold” rating on the stock in a research report on Friday. Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research report on Monday, October 7th. Finally, Citigroup began coverage on shares of Canadian National Railway in a report on Wednesday, October 9th. They set a “neutral” rating and a $125.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $126.02.

Canadian National Railway Company 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.