Canadian National Railway (NYSE:CNI) Shares Sold by Norris Perne & French LLP MI

Norris Perne & French LLP MI cut its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 12.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,120 shares of the transportation company’s stock after selling 296 shares during the quarter. Norris Perne & French LLP MI’s holdings in Canadian National Railway were worth $279,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its stake in Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 207 shares during the period. Keener Financial Planning LLC acquired a new position in Canadian National Railway during the fourth quarter valued at $46,000. Knuff & Co LLC purchased a new stake in Canadian National Railway in the 4th quarter worth about $50,000. ICA Group Wealth Management LLC acquired a new stake in Canadian National Railway during the 4th quarter worth about $56,000. Finally, Partnership Wealth Management LLC purchased a new position in Canadian National Railway during the 4th quarter valued at about $65,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

CNI stock traded up $0.14 on Friday, reaching $118.13. 1,147,068 shares of the company were exchanged, compared to its average volume of 1,453,548. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02. The stock’s fifty day moving average price is $123.88 and its 200 day moving average price is $126.16. The firm has a market capitalization of $74.95 billion, a PE ratio of 18.84, a PEG ratio of 2.07 and a beta of 0.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.16 billion. On average, research analysts anticipate that Canadian National Railway will post 5.9 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 2.12%. The ex-dividend date was Friday, June 7th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.08%.

Analyst Ratings Changes

CNI has been the subject of several research reports. Jefferies Financial Group assumed coverage on shares of Canadian National Railway in a report on Monday, April 8th. They set a “hold” rating and a $130.00 price target for the company. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $145.00 in a report on Wednesday, April 10th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday. Finally, Susquehanna reduced their price target on Canadian National Railway from $142.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday. Eighteen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $148.95.

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.