Canadian National Railway (NYSE:CNI) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lessened its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,075 shares of the transportation company’s stock after selling 189 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Canadian National Railway were worth $1,124,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Grove Bank & Trust lifted its stake in Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after acquiring an additional 97 shares during the last quarter. Catalytic Wealth RIA LLC lifted its position in shares of Canadian National Railway by 2.3% during the 3rd quarter. Catalytic Wealth RIA LLC now owns 5,582 shares of the transportation company’s stock worth $654,000 after purchasing an additional 123 shares during the last quarter. Harrington Investments INC grew its stake in shares of Canadian National Railway by 0.6% during the third quarter. Harrington Investments INC now owns 20,346 shares of the transportation company’s stock worth $2,384,000 after purchasing an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Canadian National Railway by 15.6% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the transportation company’s stock valued at $113,000 after buying an additional 131 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its stake in Canadian National Railway by 3.2% in the third quarter. Koshinski Asset Management Inc. now owns 4,375 shares of the transportation company’s stock valued at $513,000 after buying an additional 135 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $174.00 price objective on shares of Canadian National Railway in a research report on Friday. Bank of America dropped their price target on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Sanford C. Bernstein dropped their target price on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock 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 note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Moderate Buy” and an average price target of $125.77.

Canadian National Railway Stock Performance

NYSE CNI opened at $100.18 on Tuesday. The firm has a market cap of $63.00 billion, a P/E ratio of 16.05, a P/E/G ratio of 2.43 and a beta of 0.91. Canadian National Railway has a 52-week low of $98.96 and a 52-week high of $134.02. The business’s 50-day moving average price is $106.26 and its 200 day moving average price is $112.30. 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 earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period last year, the business posted $1.26 EPS. The company’s revenue was up 3.1% on a year-over-year basis. On average, equities research analysts expect that Canadian National Railway will post 5.31 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a $0.6108 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.44%. Canadian National Railway’s dividend payout ratio is currently 38.14%.

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.