Baxter Bros Inc. Lowers Stake in Canadian National Railway (NYSE:CNI)

Baxter Bros Inc. reduced its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,350 shares of the transportation company’s stock after selling 425 shares during the quarter. Baxter Bros Inc.’s holdings in Canadian National Railway were worth $978,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CNI. GQG Partners LLC lifted its stake in Canadian National Railway by 0.8% in the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock valued at $1,505,000 after buying an additional 93 shares in the last quarter. Choreo LLC lifted its stake in Canadian National Railway by 1.5% in the 1st quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock valued at $846,000 after buying an additional 97 shares in the last quarter. Grove Bank & Trust lifted its stake in Canadian National Railway by 15.3% in the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after buying an additional 97 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Canadian National Railway by 2.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after buying an additional 100 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Canadian National Railway by 1.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after buying an additional 102 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CNI shares. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lowered their target price on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Bank of America cut Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $129.00 to $122.00 in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $125.18.

Canadian National Railway Stock Up 0.3 %

Shares of NYSE CNI opened at $108.21 on Friday. The firm has a market cap of $68.04 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.42 and a beta of 0.89. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. Canadian National Railway has a 52-week low of $107.56 and a 52-week high of $134.02. The business’s 50 day moving average is $115.40 and its two-hundred day moving average is $118.76.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion for 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 quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 earnings per share. Research analysts predict that Canadian National Railway will post 5.54 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is 39.90%.

Canadian National Railway Company 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.