Rockefeller Capital Management L.P. Has $16.68 Million Stock Position in Canadian National Railway (NYSE:CNI)

Rockefeller Capital Management L.P. lowered its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.7% in the third quarter, Holdings Channel reports. The institutional investor owned 142,367 shares of the transportation company’s stock after selling 5,470 shares during the period. Rockefeller Capital Management L.P.’s holdings in Canadian National Railway were worth $16,680,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Grove Bank & Trust lifted its holdings in shares of 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 buying an additional 97 shares in the last quarter. B. Riley Wealth Advisors Inc. raised 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 in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in 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 valued at $1,105,000 after purchasing an additional 102 shares in the last quarter. Blue Trust Inc. raised its stake in Canadian National Railway by 19.3% in the second quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock valued at $77,000 after purchasing an additional 105 shares in the last quarter. Finally, Doheny Asset Management CA raised its stake in Canadian National Railway by 3.8% in the second quarter. Doheny Asset Management CA now owns 3,000 shares of the transportation company’s stock valued at $354,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.4 %

Shares of NYSE CNI opened at $111.69 on Monday. The stock has a market cap of $70.34 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. The firm has a 50 day moving average price of $112.39 and a two-hundred day moving average price of $116.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. Canadian National Railway has a 52-week low of $105.28 and a 52-week high of $134.02.

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

Canadian National Railway Cuts Dividend

The business 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. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 39.90%.

Wall Street Analyst Weigh In

CNI has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Stifel Nicolaus raised their target price on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target on the stock in a research note on Monday, October 7th. Sanford C. Bernstein dropped their price objective 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. Finally, Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their target price for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.