D.B. Root & Company LLC Decreases Stock Position in Canadian National Railway (NYSE:CNI)

D.B. Root & Company LLC trimmed its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 20.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,805 shares of the transportation company’s stock after selling 741 shares during the quarter. D.B. Root & Company LLC’s holdings in Canadian National Railway were worth $329,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CNI. Concurrent Investment Advisors LLC raised its holdings in Canadian National Railway by 4.7% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 7,523 shares of the transportation company’s stock valued at $881,000 after acquiring an additional 338 shares during the last quarter. Radnor Capital Management LLC acquired a new stake in shares of Canadian National Railway in the third quarter valued at approximately $316,000. Northstar Asset Management Inc. lifted its position in Canadian National Railway by 1.2% during the third quarter. Northstar Asset Management Inc. now owns 96,462 shares of the transportation company’s stock worth $11,301,000 after buying an additional 1,164 shares in the last quarter. Van ECK Associates Corp boosted its stake in Canadian National Railway by 45.0% during the third quarter. Van ECK Associates Corp now owns 233,110 shares of the transportation company’s stock worth $26,126,000 after buying an additional 72,320 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Canadian National Railway by 4.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 128,771 shares of the transportation company’s stock valued at $15,086,000 after buying an additional 5,301 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Up 0.9 %

Shares of NYSE:CNI opened at $113.34 on Friday. The firm has a market capitalization of $71.27 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 2.43 and a beta of 0.89. Canadian National Railway has a 1 year low of $107.54 and a 1 year high of $134.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The firm’s 50-day moving average is $114.92 and its two-hundred day moving average is $118.40.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the business posted $1.26 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts predict that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.16%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.90%.

Analysts Set New Price Targets

CNI has been the topic of several analyst reports. The Goldman Sachs Group reduced their price target 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. Susquehanna dropped 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 note on Wednesday, October 23rd. Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target on the stock in a research report on Monday, October 7th. Barclays increased their price objective on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Stephens restated an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $125.18.

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.