Bennett Selby Investments LP Sells 100 Shares of Canadian National Railway (NYSE:CNI)

Bennett Selby Investments LP lessened its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,304 shares of the transportation company’s stock after selling 100 shares during the quarter. Bennett Selby Investments LP’s holdings in Canadian National Railway were worth $504,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CNI. Vanguard Group Inc. lifted its position in Canadian National Railway by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock valued at $2,813,534,000 after buying an additional 387,975 shares during the period. Wellington Management Group LLP boosted its position in shares of Canadian National Railway by 9.6% in the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock worth $2,761,473,000 after purchasing an additional 1,907,938 shares in the last quarter. 1832 Asset Management L.P. grew its stake in shares of Canadian National Railway by 7.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after buying an additional 674,536 shares during the last quarter. Capital International Investors raised its stake in Canadian National Railway by 18.1% during the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after buying an additional 1,379,976 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd boosted its holdings in Canadian National Railway by 1.2% in the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock worth $1,017,315,000 after acquiring an additional 99,716 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock opened at $115.84 on Friday. The stock has a market cap of $72.95 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.55 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. The stock’s fifty day moving average is $115.54 and its 200 day moving average is $120.73. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 earnings per share. Sell-side analysts anticipate that Canadian National Railway will post 5.54 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a $0.614 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.12%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stephens lowered their price target on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Finally, Citigroup assumed coverage on Canadian National Railway in a report on Wednesday. They issued a “neutral” rating and a $125.00 price objective for the company. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $126.02.

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.