MAI Capital Management Reduces Stock Position in Canadian National Railway (NYSE:CNI)

MAI Capital Management decreased its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 63.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,759 shares of the transportation company’s stock after selling 6,531 shares during the period. MAI Capital Management’s holdings in Canadian National Railway were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Canadian National Railway in the 2nd quarter worth about $26,000. Addison Advisors LLC increased its position in shares of Canadian National Railway by 159.1% during the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after acquiring an additional 148 shares during the period. Fortitude Family Office LLC raised its stake in shares of Canadian National Railway by 738.7% during the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 229 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Canadian National Railway in the second quarter valued at approximately $34,000. Finally, Coastline Trust Co bought a new position in Canadian National Railway in the third quarter worth approximately $34,000. 80.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on CNI. Barclays lifted their target price on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Stephens reaffirmed 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. Susquehanna cut their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Stifel Nicolaus upped their price target on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein cut their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $125.48.

Canadian National Railway Trading Up 1.9 %

Shares of NYSE:CNI opened at $111.24 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The firm has a market capitalization of $70.06 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.41 and a beta of 0.89. The business’s 50-day moving average is $113.14 and its 200 day moving average is $117.23. Canadian National Railway has a 1 year low of $105.28 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data 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 quarter last year, the company earned $1.26 EPS. The business’s revenue was up 3.1% on a year-over-year basis. On average, research analysts predict that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 39.26%.

Canadian National Railway Company Profile

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.