Canadian National Railway (NYSE:CNI) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 28.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,376,100 shares of the transportation company’s stock after selling 942,707 shares during the period. JPMorgan Chase & Co.’s holdings in Canadian National Railway were worth $278,360,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CNI. Principal Financial Group Inc. boosted its stake in shares of Canadian National Railway by 29.6% in the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock valued at $10,820,000 after buying an additional 21,100 shares in the last quarter. Synovus Financial Corp lifted its holdings in Canadian National Railway by 82.3% in the third quarter. Synovus Financial Corp now owns 13,873 shares of the transportation company’s stock valued at $1,625,000 after acquiring an additional 6,261 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of Canadian National Railway by 115.2% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,382 shares of the transportation company’s stock worth $513,000 after purchasing an additional 2,346 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Canadian National Railway by 5.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 40,218 shares of the transportation company’s stock worth $4,712,000 after purchasing an additional 1,903 shares during the period. Finally, Advisory Resource Group increased its holdings in shares of Canadian National Railway by 13.4% in the 3rd quarter. Advisory Resource Group now owns 8,391 shares of the transportation company’s stock valued at $983,000 after purchasing an additional 989 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

NYSE:CNI opened at $101.97 on Monday. 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 cap of $64.15 billion, a PE ratio of 16.34, a P/E/G ratio of 2.43 and a beta of 0.89. The firm has a 50 day simple moving average of $108.11 and a 200-day simple moving average of $113.61. Canadian National Railway has a 1-year low of $99.90 and a 1-year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share 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 company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the firm posted $1.26 EPS. Canadian National Railway’s revenue was up 3.1% on a year-over-year basis. On average, equities analysts expect that Canadian National Railway will post 5.31 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is 38.14%.

Analyst Upgrades and Downgrades

CNI has been the topic of several recent analyst reports. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. The Goldman Sachs Group dropped their price objective on 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. Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus raised 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, Stephens reiterated an “equal weight” rating and issued a $116.00 price objective on shares of Canadian National Railway in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $125.86.

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.