Canadian National Railway (NYSE:CNI) Stake Lessened by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. cut its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 31.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,475 shares of the transportation company’s stock after selling 93,558 shares during the period. Coronation Fund Managers Ltd.’s holdings in Canadian National Railway were worth $23,954,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Canadian National Railway during the second quarter valued at approximately $26,000. Addison Advisors LLC lifted its stake in 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 purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Canadian National Railway by 738.7% during the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares during the last quarter. ORG Partners LLC acquired a new stake in Canadian National Railway during the second quarter valued at approximately $34,000. Finally, Reston Wealth Management LLC acquired a new stake in Canadian National Railway during the third quarter valued at approximately $41,000. 80.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CNI has been the subject of several recent research reports. Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Susquehanna reduced their price target on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group reduced their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Finally, Veritas upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus target price of $125.18.

Canadian National Railway Stock Performance

Shares of CNI opened at $108.21 on Friday. The company’s fifty day moving average is $115.40 and its 200-day moving average is $118.76. Canadian National Railway has a 12 month low of $107.56 and a 12 month high of $134.02. The firm has a market cap of $68.04 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth 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 (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 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 company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the business posted $1.26 EPS. Canadian National Railway’s quarterly revenue was up 3.1% on a year-over-year basis. Equities 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 declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.26%. Canadian National Railway’s dividend payout ratio (DPR) is 39.90%.

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.