Canadian National Railway (NYSE:CNI) Stock Holdings Lowered by Carret Asset Management LLC

Carret Asset Management LLC cut its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,293 shares of the transportation company’s stock after selling 1,000 shares during the quarter. Carret Asset Management LLC’s holdings in Canadian National Railway were worth $5,570,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC increased its position in Canadian National Railway by 37.2% in the 3rd quarter. LPL Financial LLC now owns 92,014 shares of the transportation company’s stock valued at $9,968,000 after acquiring an additional 24,952 shares during the period. Gotham Asset Management LLC raised its stake in shares of Canadian National Railway by 129.6% during the third quarter. Gotham Asset Management LLC now owns 12,311 shares of the transportation company’s stock valued at $1,334,000 after purchasing an additional 6,950 shares in the last quarter. Waverly Advisors LLC bought a new stake in shares of Canadian National Railway during the third quarter valued at about $212,000. Insigneo Advisory Services LLC acquired a new stake in Canadian National Railway in the third quarter worth about $407,000. Finally, Glenmede Trust Co. NA grew its position in Canadian National Railway by 1.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 16,213 shares of the transportation company’s stock valued at $1,756,000 after buying an additional 154 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on CNI. Stifel Nicolaus boosted their price target on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Barclays lifted their price target on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. Finally, StockNews.com lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Eighteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Canadian National Railway currently has an average rating of “Hold” and a consensus target price of $148.95.

Canadian National Railway Stock Up 1.3 %

Shares of CNI stock traded up $1.51 during trading on Wednesday, hitting $119.09. 505,377 shares of the company were exchanged, compared to its average volume of 1,062,819. The business’s 50-day simple moving average is $123.40 and its 200 day simple moving average is $126.20. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The firm has a market capitalization of $75.56 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 2.07 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.16 billion. As a group, analysts forecast that Canadian National Railway will post 5.9 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 2.10%. The ex-dividend date was Friday, June 7th. Canadian National Railway’s payout ratio is currently 39.08%.

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.