Congress Asset Management Co. Sells 298 Shares of Canadian National Railway (NYSE:CNI)

Congress Asset Management Co. lessened its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 10.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,669 shares of the transportation company’s stock after selling 298 shares during the quarter. Congress Asset Management Co.’s holdings in Canadian National Railway were worth $313,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. GQG Partners LLC raised its holdings in Canadian National Railway by 0.8% during the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock worth $1,505,000 after purchasing an additional 93 shares during the last quarter. Choreo LLC raised its stake in shares of Canadian National Railway by 1.5% during the first quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock worth $846,000 after buying an additional 97 shares during the last quarter. Grove Bank & Trust lifted its holdings in Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after buying an additional 97 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in Canadian National Railway by 2.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after acquiring an additional 100 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Canadian National Railway by 1.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock worth $1,105,000 after acquiring an additional 102 shares during the period. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $108.21 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The firm has a market cap of $68.04 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.42 and a beta of 0.89. Canadian National Railway has a one year low of $107.56 and a one year high of $134.02. The stock’s 50-day moving average is $115.40 and its 200-day moving average is $118.76.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. Equities analysts predict that Canadian National Railway will post 5.54 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.90%.

Analyst Upgrades and Downgrades

CNI has been the topic of a number of analyst reports. Sanford C. Bernstein cut their price target 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. Barclays raised their target price on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Stephens reissued an “equal weight” rating and set a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price for the company in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $125.18.

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.