Kathmere Capital Management LLC Sells 6,644 Shares of Canadian National Railway (NYSE:CNI)

Kathmere Capital Management LLC trimmed its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 66.6% in the 4th quarter, Holdings Channel reports. The firm owned 3,326 shares of the transportation company’s stock after selling 6,644 shares during the quarter. Kathmere Capital Management LLC’s holdings in Canadian National Railway were worth $338,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. XTX Topco Ltd raised its position in shares of Canadian National Railway by 43.3% in the third quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock worth $1,822,000 after buying an additional 4,698 shares in the last quarter. Unigestion Holding SA boosted its position in shares of Canadian National Railway by 363.6% during the 3rd quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock valued at $18,012,000 after acquiring an additional 120,687 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Canadian National Railway by 29.6% during the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock worth $10,820,000 after purchasing an additional 21,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Canadian National Railway by 5.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock worth $464,002,000 after purchasing an additional 202,303 shares during the last quarter. Finally, Partners Group Holding AG raised its stake in Canadian National Railway by 16.3% in the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock valued at $47,571,000 after purchasing an additional 56,849 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Trading Up 1.3 %

NYSE CNI opened at $101.98 on Friday. The stock has a market cap of $64.13 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 2.21 and a beta of 0.91. Canadian National Railway has a fifty-two week low of $98.96 and a fifty-two week high of $134.02. The stock has a 50 day simple moving average of $105.85 and a two-hundred day simple moving average of $112.09. 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 announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion during 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 firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share. On average, analysts forecast that Canadian National Railway will post 5.21 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 38.30%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America lowered their price objective on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group reduced their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Royal Bank of Canada restated an “outperform” rating and issued a $174.00 target price on shares of Canadian National Railway in a research report on Friday, January 10th. Finally, Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price target for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.77.

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.