New England Research & Management Inc. Trims Stake in Canadian National Railway (NYSE:CNI)

New England Research & Management Inc. lowered its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,800 shares of the transportation company’s stock after selling 200 shares during the quarter. New England Research & Management Inc.’s holdings in Canadian National Railway were worth $445,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CNI. Canada Pension Plan Investment Board grew its stake in shares of Canadian National Railway by 92.4% in the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock valued at $593,911,000 after buying an additional 2,163,820 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Canadian National Railway by 9.6% during the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after buying an additional 1,907,938 shares during the last quarter. Capital International Investors boosted its holdings in shares of Canadian National Railway by 18.1% in the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after buying an additional 1,379,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Canadian National Railway by 4,614.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock valued at $157,896,000 after buying an additional 1,307,689 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Canadian National Railway in the 2nd quarter valued at $134,096,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNI has been the topic of several research analyst reports. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. Stifel Nicolaus cut their price target on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Susquehanna cut their price target 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. Scotiabank upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, National Bank Financial upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. 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 MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $129.51.

Canadian National Railway Price Performance

CNI stock traded down $0.46 during trading on Monday, reaching $113.08. 1,353,893 shares of the company were exchanged, compared to its average volume of 1,089,545. The company has a market cap of $71.51 billion, a P/E ratio of 18.04, a PEG ratio of 2.46 and a beta of 0.88. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The stock’s 50 day moving average price is $115.54 and its 200 day moving average price is $121.18. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.31 EPS. As a group, analysts predict that Canadian National Railway will post 5.58 earnings per share 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. Investors of record on Friday, September 6th were issued a dividend of $0.614 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Friday, September 6th. Canadian National Railway’s dividend payout ratio is currently 39.07%.

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.