CIBC Private Wealth Group LLC Sells 13,796 Shares of Canadian National Railway (NYSE:CNI)

CIBC Private Wealth Group LLC reduced its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 298,711 shares of the transportation company’s stock after selling 13,796 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Canadian National Railway were worth $30,588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNI. Quintet Private Bank Europe S.A. bought a new stake in Canadian National Railway during the 4th quarter worth approximately $25,000. Arlington Trust Co LLC purchased a new position in shares of Canadian National Railway during the fourth quarter valued at approximately $30,000. Lee Danner & Bass Inc. bought a new stake in Canadian National Railway during the fourth quarter worth $30,000. Addison Advisors LLC raised its position in Canadian National Railway by 80.2% in the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock valued at $32,000 after buying an additional 142 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Canadian National Railway by 48.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 108 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Down 0.1 %

CNI opened at $97.35 on Tuesday. Canadian National Railway has a 12 month low of $93.64 and a 12 month high of $132.27. The company has a market cap of $61.17 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The company has a 50 day moving average of $100.98 and a 200 day moving average of $106.35.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. On average, sell-side analysts expect that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.6159 per share. The ex-dividend date was Monday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 2.53%. Canadian National Railway’s dividend payout ratio is currently 47.66%.

Analyst Ratings Changes

Several research firms have recently issued reports on CNI. Royal Bank of Canada reduced their target price on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Bank of America decreased their price objective on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Loop Capital downgraded Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.02.

About Canadian National Railway

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.