Barnett & Company Inc. Cuts Holdings in Canadian National Railway (NYSE:CNI)

Barnett & Company Inc. lessened its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,304 shares of the transportation company’s stock after selling 450 shares during the quarter. Canadian National Railway comprises about 1.3% of Barnett & Company Inc.’s holdings, making the stock its 26th largest holding. Barnett & Company Inc.’s holdings in Canadian National Railway were worth $1,910,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its position in Canadian National Railway by 36.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 16,922 shares of the transportation company’s stock valued at $2,229,000 after purchasing an additional 4,551 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Canadian National Railway by 32.6% in the 1st quarter. Atomi Financial Group Inc. now owns 2,784 shares of the transportation company’s stock valued at $367,000 after purchasing an additional 684 shares during the period. Concurrent Investment Advisors LLC lifted its position in Canadian National Railway by 82.2% in the 1st quarter. Concurrent Investment Advisors LLC now owns 6,274 shares of the transportation company’s stock worth $826,000 after buying an additional 2,830 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in Canadian National Railway by 16.3% during the first quarter. Avantax Advisory Services Inc. now owns 15,375 shares of the transportation company’s stock valued at $2,025,000 after purchasing an additional 2,153 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Canadian National Railway by 21.0% in the 1st quarter. Bleakley Financial Group LLC now owns 6,072 shares of the transportation company’s stock valued at $800,000 after buying an additional 1,054 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Up 0.0 %

Shares of Canadian National Railway stock traded up $0.02 during midday trading on Tuesday, hitting $111.66. The company 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 quick ratio of 0.49 and a current ratio of 0.64. The company has a 50 day moving average of $114.58 and a 200 day moving average of $118.03. Canadian National Railway has a 52-week low of $107.54 and a 52-week high of $134.02. The stock has a market capitalization of $70.21 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.49 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the firm earned $1.26 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts predict that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given 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 dividend payout ratio (DPR) is 39.90%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Benchmark restated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and increased their target price for the company from $126.00 to $130.00 in a research note on Tuesday. The Goldman Sachs Group dropped their price target on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus raised their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $125.48.

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.