Canadian National Railway (NYSE:CNI) Position Decreased by Pathstone Holdings LLC

Pathstone Holdings LLC reduced its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,661 shares of the transportation company’s stock after selling 595 shares during the quarter. Pathstone Holdings LLC’s holdings in Canadian National Railway were worth $2,420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in shares of Canadian National Railway by 14.0% during the 1st quarter. Advisors Asset Management Inc. now owns 8,174 shares of the transportation company’s stock valued at $1,077,000 after acquiring an additional 1,002 shares during the last quarter. Ascent Group LLC increased its stake in Canadian National Railway by 5.1% in the 1st quarter. Ascent Group LLC now owns 2,495 shares of the transportation company’s stock worth $329,000 after purchasing an additional 122 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Canadian National Railway by 2.0% during the 1st quarter. Janus Henderson Group PLC now owns 82,561 shares of the transportation company’s stock worth $10,874,000 after buying an additional 1,606 shares during the period. Dynasty Wealth Management LLC purchased a new stake in Canadian National Railway during the first quarter valued at about $375,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Canadian National Railway by 2.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock worth $547,000 after buying an additional 100 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNI has been the topic of a number of recent analyst reports. Bank of America lowered shares of Canadian National Railway from a “buy” rating to a “neutral” rating and cut their price target for the company from $129.00 to $122.00 in a report on Friday, October 4th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Sanford C. Bernstein decreased their target price 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. Stifel Nicolaus upped their price target on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $125.48.

Canadian National Railway Price Performance

NYSE CNI opened at $111.74 on Tuesday. The company has a 50 day moving average price of $112.96 and a two-hundred day moving average price of $117.00. Canadian National Railway has a 12-month low of $105.28 and a 12-month high of $134.02. The stock has a market capitalization of $70.37 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

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

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.19%. Canadian National Railway’s payout ratio is currently 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.