Tobam Decreases Position in Canadian National Railway (NYSE:CNI)

Tobam cut its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 26.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 634 shares of the transportation company’s stock after selling 228 shares during the period. Tobam’s holdings in Canadian National Railway were worth $74,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Canadian National Railway during the second quarter valued at approximately $26,000. GAMMA Investing LLC grew its stake in shares of Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after buying an additional 207 shares during the last quarter. Addison Advisors LLC grew its stake in shares of Canadian National Railway by 159.1% during the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after buying an additional 148 shares during the last quarter. ORG Partners LLC bought a new position in shares of Canadian National Railway during the second quarter valued at approximately $34,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Canadian National Railway during the first quarter valued at approximately $64,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Up 0.6 %

Shares of NYSE CNI opened at $115.84 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $72.95 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.55 and a beta of 0.88. The stock’s fifty day simple moving average is $115.54 and its two-hundred day simple moving average is $120.73. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same period last year, the business posted $1.31 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. As a group, analysts expect that Canadian National Railway will post 5.54 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.614 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.46 annualized dividend and a dividend yield of 2.12%. Canadian National Railway’s dividend payout ratio is presently 39.26%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CNI. Stephens cut their target price on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Stifel Nicolaus cut their target price on Canadian National Railway from $133.00 to $130.00 and set a “hold” rating on the stock in a research note on Friday. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. Citigroup initiated coverage on Canadian National Railway in a research note on Wednesday. They issued a “neutral” rating and a $125.00 price objective on the stock. Finally, Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $126.02.

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.