QRG Capital Management Inc. Sells 531 Shares of Canadian National Railway (NYSE:CNI)

QRG Capital Management Inc. reduced its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 17.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,545 shares of the transportation company’s stock after selling 531 shares during the period. QRG Capital Management Inc.’s holdings in Canadian National Railway were worth $298,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CNI. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Canadian National Railway by 36.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 16,922 shares of the transportation company’s stock worth $2,229,000 after acquiring an additional 4,551 shares during the period. Atomi Financial Group Inc. lifted its position in shares of Canadian National Railway by 32.6% in the 1st quarter. Atomi Financial Group Inc. now owns 2,784 shares of the transportation company’s stock worth $367,000 after purchasing an additional 684 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of Canadian National Railway by 82.2% in the 1st quarter. Concurrent Investment Advisors LLC now owns 6,274 shares of the transportation company’s stock valued at $826,000 after purchasing an additional 2,830 shares during the last quarter. Avantax Advisory Services Inc. increased its position in shares of Canadian National Railway by 16.3% during the first quarter. Avantax Advisory Services Inc. now owns 15,375 shares of the transportation company’s stock worth $2,025,000 after buying an additional 2,153 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in Canadian National Railway by 21.0% during the first quarter. Bleakley Financial Group LLC now owns 6,072 shares of the transportation company’s stock worth $800,000 after buying an additional 1,054 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Up 0.8 %

Shares of NYSE CNI opened at $111.67 on Tuesday. 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 company has a 50-day moving average price of $114.71 and a 200-day moving average price of $118.12. The stock has a market capitalization of $70.22 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.49 and a beta of 0.89. Canadian National Railway has a 1 year low of $107.54 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. On average, equities research analysts forecast that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.19%. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.90%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CNI. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Stifel Nicolaus upped their target price on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Evercore ISI lowered their target price on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Finally, Susquehanna reduced their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.