Canadian National Railway (NYSE:CNI) Shares Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co trimmed its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,403 shares of the transportation company’s stock after selling 562 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Canadian National Railway were worth $4,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. 1832 Asset Management L.P. grew its position in Canadian National Railway by 7.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after purchasing an additional 674,536 shares during the last quarter. Capital International Investors boosted its holdings in shares of Canadian National Railway by 18.1% in the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after acquiring an additional 1,379,976 shares in the last quarter. JARISLOWSKY FRASER Ltd boosted its holdings in shares of Canadian National Railway by 1.2% in the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock valued at $1,017,315,000 after acquiring an additional 99,716 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of Canadian National Railway by 0.7% in the third quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock valued at $642,828,000 after acquiring an additional 39,063 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Canadian National Railway by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock valued at $570,667,000 after purchasing an additional 120,453 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CNI. The Goldman Sachs Group reduced their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Stifel Nicolaus raised their price objective on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Bank of America cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating and cut their target price for the stock from $129.00 to $122.00 in a research report on Friday, October 4th. Finally, Barclays lifted their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus price target of $125.48.

Canadian National Railway Trading Down 0.3 %

NYSE CNI opened at $108.54 on Tuesday. The company’s fifty day simple moving average is $113.87 and its 200-day simple moving average is $117.58. Canadian National Railway has a 52 week low of $107.54 and a 52 week high of $134.02. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The stock has a market cap of $68.36 billion, a P/E ratio of 17.39, a PEG ratio of 2.46 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the company posted $1.26 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts predict that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.25%. Canadian National Railway’s dividend payout ratio is presently 39.26%.

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.