Brown Brothers Harriman & Co. Reduces Stock Position in Canadian National Railway (NYSE:CNI)

Brown Brothers Harriman & Co. decreased its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 45.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 998 shares of the transportation company’s stock after selling 833 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Canadian National Railway were worth $117,000 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. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Canadian National Railway during the 2nd quarter worth $26,000. Addison Advisors LLC increased its position in 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 purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC raised its stake in Canadian National Railway by 738.7% during the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after purchasing an additional 229 shares during the period. ORG Partners LLC acquired a new position in Canadian National Railway in the 2nd quarter valued at about $34,000. Finally, Coastline Trust Co purchased a new stake in shares of Canadian National Railway in the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CNI. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price target for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. The Goldman Sachs Group reduced their target price on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Barclays increased their price target on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Evercore ISI reduced their price objective on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a report on Wednesday, October 23rd. Finally, Bank of America lowered shares of Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $125.86.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $111.26 on Friday. 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 has a 52-week low of $105.28 and a 52-week high of $134.02. The firm has a market cap of $70.07 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89. The company’s 50 day moving average is $112.50 and its two-hundred day moving average is $116.80.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (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 analysts’ expectations of $4.08 billion. During the same period last year, the firm earned $1.26 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, research analysts expect that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business 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 dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is presently 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.