Pathstone Holdings LLC Reduces Holdings in Canadian National Railway (NYSE:CNI)

Pathstone Holdings LLC reduced its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,661 shares of the transportation company’s stock after selling 595 shares during the period. Pathstone Holdings LLC’s holdings in Canadian National Railway were worth $2,420,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CNI. Thurston Springer Miller Herd & Titak Inc. acquired a new stake 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 buying an additional 148 shares in the last quarter. Fortitude Family Office LLC increased its stake in shares of Canadian National Railway by 738.7% in the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after buying an additional 229 shares during the last quarter. ORG Partners LLC acquired a new stake in Canadian National Railway in the second quarter valued at $34,000. Finally, Coastline Trust Co bought a new position in Canadian National Railway during the 3rd quarter valued at $34,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America cut Canadian National Railway from a “buy” rating to a “neutral” rating and cut their price objective for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Stephens reaffirmed an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Finally, Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $125.48.

Canadian National Railway Price Performance

NYSE CNI opened at $111.74 on Tuesday. The company has a 50-day moving average price of $112.96 and a two-hundred day moving average price of $117.00. Canadian National Railway has a 52 week low of $105.28 and a 52 week high of $134.02. The stock has a market cap of $70.37 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted 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%. During the same period last year, the firm earned $1.26 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. Analysts forecast that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 39.26%.

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.