Canadian National Railway (NYSE:CNI) Stock Position Reduced by Pitcairn Co.

Pitcairn Co. decreased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,592 shares of the transportation company’s stock after selling 213 shares during the quarter. Pitcairn Co.’s holdings in Canadian National Railway were worth $538,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CNI. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Canadian National Railway in the second quarter worth $26,000. Addison Advisors LLC lifted its position in shares of Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after buying an additional 148 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares during the period. Coastline Trust Co bought a new stake in shares of Canadian National Railway during the 3rd quarter valued at about $34,000. Finally, ORG Partners LLC acquired a new stake in Canadian National Railway during the second quarter worth about $34,000. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CNI shares. Sanford C. Bernstein lowered their target price on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a report on Wednesday, October 9th. Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Stephens reiterated an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Barclays upped their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective on the stock in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Canadian National Railway currently has an average rating of “Hold” and an average price target of $125.48.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $111.74 on Tuesday. Canadian National Railway has a 1 year low of $105.28 and a 1 year high of $134.02. The firm has a market cap of $70.37 billion, a P/E ratio of 17.91, a PEG ratio of 2.51 and a beta of 0.89. The stock has a fifty day moving average price of $112.96 and a two-hundred day moving average price of $117.00. 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 (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company earned $1.26 earnings per share. Canadian National Railway’s revenue was up 3.1% compared to the same quarter last year. Research analysts forecast that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is 39.26%.

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.