Intech Investment Management LLC Reduces Stock Holdings in Canadian National Railway (NYSE:CNI)

Intech Investment Management LLC lessened its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 13.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,813 shares of the transportation company’s stock after selling 11,112 shares during the quarter. Intech Investment Management LLC’s holdings in Canadian National Railway were worth $8,067,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Canadian National Railway by 29.6% in the 3rd quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock valued at $10,820,000 after buying an additional 21,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Canadian National Railway by 5.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after buying an additional 202,303 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Canadian National Railway in the 2nd quarter valued at about $134,096,000. Sterling Investment Management LLC grew its holdings in Canadian National Railway by 17.2% in the 3rd quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock valued at $4,250,000 after buying an additional 5,329 shares during the period. Finally, Summit Global Investments purchased a new stake in Canadian National Railway in the 3rd quarter valued at about $636,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $109.11 on Friday. The stock’s 50 day moving average price is $113.29 and its 200 day moving average price is $117.33. The firm has a market capitalization of $68.72 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.41 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. Canadian National Railway has a one year low of $105.28 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released 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. The firm 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%. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS. As a group, sell-side analysts expect that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.24%. Canadian National Railway’s dividend payout ratio is presently 39.26%.

Analysts Set New Price Targets

Several analysts have commented on CNI shares. Bank of America cut Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price target for the company from $129.00 to $122.00 in a report on Friday, October 4th. The Goldman Sachs Group reduced their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Stifel Nicolaus lifted their price objective on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus price target of $125.48.

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.