Bleakley Financial Group LLC Lowers Holdings in Canadian National Railway (NYSE:CNI)

Bleakley Financial Group LLC lowered its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,553 shares of the transportation company’s stock after selling 235 shares during the quarter. Bleakley Financial Group LLC’s holdings in Canadian National Railway were worth $665,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings in Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares in the last quarter. Coastline Trust Co purchased a new position in Canadian National Railway during the third quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Canadian National Railway by 48.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 108 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Canadian National Railway in the 3rd quarter worth $41,000. Finally, Sanctuary Wealth Management L.L.C. bought a new position in shares of Canadian National Railway during the 3rd quarter valued at about $56,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of CNI stock opened at $101.53 on Monday. The stock has a 50 day moving average price of $103.56 and a 200 day moving average price of $110.19. Canadian National Railway has a 52-week low of $98.69 and a 52-week high of $134.02. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. The firm has a market capitalization of $63.85 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.94 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. As a group, sell-side analysts predict that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.6159 dividend. This represents a $2.46 annualized dividend and a yield of 2.43%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. Canadian National Railway’s payout ratio is 46.68%.

Analyst Upgrades and Downgrades

CNI has been the topic of several research reports. Royal Bank of Canada reduced their target price on Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Evercore ISI raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. Bank of America cut their target price on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price target for the company from $126.00 to $130.00 in a research note on Tuesday, November 12th. Finally, Stephens reissued an “equal weight” rating and issued a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $124.19.

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.