Barnett & Company Inc. Decreases Stake in Canadian National Railway (NYSE:CNI)

Barnett & Company Inc. trimmed its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,304 shares of the transportation company’s stock after selling 450 shares during the period. Canadian National Railway makes up about 1.3% of Barnett & Company Inc.’s portfolio, making the stock its 26th biggest position. Barnett & Company Inc.’s holdings in Canadian National Railway were worth $1,910,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CNI. GQG Partners LLC raised its stake in shares of Canadian National Railway by 0.8% during the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock worth $1,505,000 after buying an additional 93 shares in the last quarter. Grove Bank & Trust boosted its position in Canadian National Railway by 15.3% during the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after acquiring an additional 97 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in 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 valued at $547,000 after purchasing an additional 100 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Canadian National Railway by 1.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock worth $1,105,000 after acquiring an additional 102 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Canadian National Railway by 19.3% during the 2nd quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock worth $77,000 after buying an additional 105 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CNI shares. Citigroup raised 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. Stifel Nicolaus increased their target price on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Evercore ISI decreased their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. Bank of America lowered shares of Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $129.00 to $122.00 in a research report on Friday, October 4th. Finally, Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $125.48.

Canadian National Railway Stock Performance

Canadian National Railway stock traded up $0.02 during midday trading on Tuesday, hitting $111.66. The company’s stock had a trading volume of 248,772 shares, compared to its average volume of 1,112,195. 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 company has a market cap of $70.21 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.49 and a beta of 0.89. The company has a 50-day moving average price of $114.58 and a two-hundred day moving average price of $118.03. Canadian National Railway has a 1-year low of $107.54 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 (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 EPS. As a group, sell-side analysts predict that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.19%. Canadian National Railway’s dividend payout ratio is 39.90%.

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.