Canadian National Railway (NYSE:CNI) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 28.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,376,100 shares of the transportation company’s stock after selling 942,707 shares during the period. JPMorgan Chase & Co. owned approximately 0.38% of Canadian National Railway worth $278,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNI. Grove Bank & Trust increased its holdings in Canadian National Railway by 15.3% during the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after purchasing an additional 97 shares during the period. Doheny Asset Management CA increased its stake in shares of Canadian National Railway by 3.8% during the second quarter. Doheny Asset Management CA now owns 3,000 shares of the transportation company’s stock worth $354,000 after buying an additional 110 shares during the period. Catalytic Wealth RIA LLC raised its holdings in Canadian National Railway by 2.3% in the third quarter. Catalytic Wealth RIA LLC now owns 5,582 shares of the transportation company’s stock valued at $654,000 after acquiring an additional 123 shares in the last quarter. Harrington Investments INC lifted its stake in Canadian National Railway by 0.6% in the third quarter. Harrington Investments INC now owns 20,346 shares of the transportation company’s stock worth $2,384,000 after acquiring an additional 130 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Canadian National Railway by 15.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the transportation company’s stock worth $113,000 after acquiring an additional 131 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CNI. Susquehanna reduced their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Barclays raised their price target on 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. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group lowered their price target on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.86.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $101.97 on Monday. Canadian National Railway has a one year low of $99.90 and a one year high of $134.02. The stock has a market capitalization of $64.15 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.43 and a beta of 0.89. The company has a 50-day simple moving average of $108.11 and a 200-day simple moving average of $113.61. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the prior year, the business earned $1.26 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that Canadian National Railway will post 5.31 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.40%. Canadian National Railway’s dividend payout ratio (DPR) is 38.14%.

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.