Raub Brock Capital Management LP Reduces Holdings in Canadian National Railway (NYSE:CNI)

Raub Brock Capital Management LP reduced its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.2% in the 2nd quarter, Holdings Channel reports. The firm owned 127,672 shares of the transportation company’s stock after selling 1,596 shares during the quarter. Canadian National Railway accounts for about 3.3% of Raub Brock Capital Management LP’s portfolio, making the stock its 23rd largest position. Raub Brock Capital Management LP’s holdings in Canadian National Railway were worth $15,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Canadian National Railway in the fourth quarter valued at about $769,556,000. Capital International Investors raised its holdings in Canadian National Railway by 63.2% in the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock valued at $957,845,000 after acquiring an additional 2,951,506 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Canadian National Railway by 92.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after purchasing an additional 2,163,820 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Canadian National Railway by 9.6% during the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. Finally, FIL Ltd grew its position in shares of Canadian National Railway by 7.2% in the fourth quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after purchasing an additional 1,280,726 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Down 1.1 %

CNI traded down $1.34 during mid-day trading on Friday, hitting $115.37. 1,926,553 shares of the stock were exchanged, compared to its average volume of 1,076,060. The firm’s fifty day moving average is $116.24 and its two-hundred day moving average is $123.02. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The company has a market cap of $72.96 billion, a PE ratio of 18.40, a PEG ratio of 2.41 and a beta of 0.88. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period in the prior year, the company posted $1.31 EPS. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts forecast that Canadian National Railway will post 5.64 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.614 per share. The ex-dividend date is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a yield of 2.13%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.07%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays lowered their price objective on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Sanford C. Bernstein lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $146.25 to $130.67 in a report on Monday, July 8th. Wells Fargo & Company reduced their target price on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. StockNews.com cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, National Bank Financial upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Sixteen investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $138.35.

Canadian National Railway 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.