Sei Investments Co. Reduces Holdings in Canadian National Railway (NYSE:CNI)

Sei Investments Co. decreased its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 360,591 shares of the transportation company’s stock after selling 4,836 shares during the quarter. Sei Investments Co. owned 0.06% of Canadian National Railway worth $42,597,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CNI. Capital International Investors raised its stake in Canadian National Railway by 63.2% during the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock valued at $957,845,000 after buying an additional 2,951,506 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in 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 worth $593,911,000 after purchasing an additional 2,163,820 shares during the last quarter. Wellington Management Group LLP grew its stake 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 valued at $2,761,473,000 after purchasing an additional 1,907,938 shares during the period. FIL Ltd increased its position in shares of Canadian National Railway by 7.2% during the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after purchasing an additional 1,280,726 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Canadian National Railway in the second quarter worth approximately $134,096,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

CNI stock opened at $117.11 on Tuesday. The firm has a market cap of $74.06 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 2.56 and a beta of 0.88. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The business’s fifty day simple moving average is $116.14 and its two-hundred day simple moving average is $122.03.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data 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 company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.31 EPS. Analysts predict that Canadian National Railway will post 5.58 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be paid a $0.614 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.10%. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.07%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNI. Sanford C. Bernstein cut Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $146.25 to $130.67 in a research report on Monday, July 8th. Susquehanna cut their target price on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Stifel Nicolaus lowered their price target on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Bank of America dropped their target price on shares of Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company cut their price objective on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Fifteen equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $136.33.

Canadian National Railway 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.