DORCHESTER WEALTH MANAGEMENT Co Sells 1,897 Shares of Canadian National Railway (NYSE:CNI)

DORCHESTER WEALTH MANAGEMENT Co trimmed its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 92,115 shares of the transportation company’s stock after selling 1,897 shares during the quarter. Canadian National Railway comprises 1.9% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 18th biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Canadian National Railway were worth $10,691,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CNI. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Canadian National Railway in the second quarter worth $26,000. Addison Advisors LLC lifted its holdings in shares of Canadian National Railway by 159.1% during the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 207 shares in the last quarter. ORG Partners LLC bought a new position in shares of Canadian National Railway during the second quarter valued at $34,000. Finally, Daiwa Securities Group Inc. bought a new position in shares of Canadian National Railway during the first quarter valued at $64,000. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CNI. Stephens reaffirmed an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a report on Wednesday. Susquehanna reduced their price objective on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday. Bank of America cut Canadian National Railway from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $129.00 to $122.00 in a research report on Friday, October 4th. Barclays upped their price target on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $125.18.

Canadian National Railway Trading Down 1.0 %

Shares of NYSE:CNI traded down $1.16 during trading on Thursday, hitting $110.83. The company had a trading volume of 398,684 shares, compared to its average volume of 1,107,785. The stock has a market cap of $69.80 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 2.50 and a beta of 0.88. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The company has a fifty day simple moving average of $116.02 and a two-hundred day simple moving average of $119.72. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company earned $1.26 EPS. As a group, equities analysts forecast that Canadian National Railway will post 5.5 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is 39.26%.

Canadian National Railway Company 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.