Northeast Investment Management Lowers Position in Canadian National Railway (NYSE:CNI)

Northeast Investment Management lessened its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,701 shares of the transportation company’s stock after selling 97 shares during the quarter. Northeast Investment Management’s holdings in Canadian National Railway were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in Canadian National Railway by 45.0% during the 3rd quarter. Van ECK Associates Corp now owns 233,110 shares of the transportation company’s stock valued at $26,126,000 after buying an additional 72,320 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Canadian National Railway by 4.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 128,771 shares of the transportation company’s stock valued at $15,086,000 after buying an additional 5,301 shares in the last quarter. Pembroke Management LTD increased its position in Canadian National Railway by 36.6% during the 3rd quarter. Pembroke Management LTD now owns 5,493 shares of the transportation company’s stock valued at $644,000 after buying an additional 1,473 shares in the last quarter. White Pine Investment CO increased its position in Canadian National Railway by 2.3% during the 3rd quarter. White Pine Investment CO now owns 48,755 shares of the transportation company’s stock valued at $5,712,000 after buying an additional 1,112 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Canadian National Railway by 310.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,404 shares of the transportation company’s stock valued at $164,000 after buying an additional 1,062 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Sanford C. Bernstein reduced their price objective on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Stephens reissued an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group reduced their target price 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 investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $125.18.

Canadian National Railway Price Performance

NYSE CNI opened at $108.21 on Monday. The company has a market capitalization of $68.04 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 2.42 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The business’s fifty day moving average is $115.40 and its 200 day moving average is $118.70. Canadian National Railway has a fifty-two week low of $107.56 and a fifty-two week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced 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 business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis. Sell-side analysts predict that Canadian National Railway will post 5.54 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.26%. Canadian National Railway’s payout ratio is 39.90%.

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.