Canadian National Railway (NYSE:CNI) Shares Sold by InterOcean Capital Group LLC

InterOcean Capital Group LLC cut its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 11.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,789 shares of the transportation company’s stock after selling 354 shares during the quarter. InterOcean Capital Group LLC’s holdings in Canadian National Railway were worth $367,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CNI. American Century Companies Inc. raised its holdings in shares of Canadian National Railway by 6.2% in the 3rd quarter. American Century Companies Inc. now owns 84,920 shares of the transportation company’s stock worth $9,196,000 after purchasing an additional 4,986 shares during the period. Whittier Trust Co. boosted its holdings in shares of Canadian National Railway by 20.1% during the fourth quarter. Whittier Trust Co. now owns 3,495 shares of the transportation company’s stock valued at $439,000 after acquiring an additional 585 shares during the period. Raymond James & Associates grew its position in Canadian National Railway by 13.2% in the 4th quarter. Raymond James & Associates now owns 233,453 shares of the transportation company’s stock worth $29,329,000 after purchasing an additional 27,248 shares during the last quarter. Schechter Investment Advisors LLC raised its stake in Canadian National Railway by 13.9% during the 4th quarter. Schechter Investment Advisors LLC now owns 7,436 shares of the transportation company’s stock valued at $934,000 after acquiring an additional 909 shares in the last quarter. Finally, Trust Co of the South acquired a new stake in Canadian National Railway in the fourth quarter worth about $677,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

Canadian National Railway stock traded down $2.38 during midday trading on Thursday, reaching $113.42. The company’s stock had a trading volume of 2,027,000 shares, compared to its average volume of 1,086,443. The business has a 50-day moving average price of $121.78 and a 200-day moving average price of $125.63. The stock has a market cap of $71.73 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.32%. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The business’s quarterly revenue was up 6.7% on a year-over-year basis. On average, sell-side analysts predict that Canadian National Railway will post 5.84 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 6th will be issued a dividend of $0.614 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 annualized dividend and a yield of 2.17%. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.55%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CNI. Wells Fargo & Company cut their price target on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Wednesday. StockNews.com lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Stifel Nicolaus reduced their target price on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a report on Wednesday. National Bank Financial upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Finally, Barclays lowered their price target on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Eighteen investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and an average target price of $146.08.

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.