Canadian National Railway (NYSE:CNI) Shares Sold by Callahan Advisors LLC

Callahan Advisors LLC trimmed its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,069 shares of the transportation company’s stock after selling 3,775 shares during the quarter. Callahan Advisors LLC’s holdings in Canadian National Railway were worth $8,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNI. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Canadian National Railway in the second quarter valued at approximately $26,000. Addison Advisors LLC lifted its stake in Canadian National Railway by 159.1% in the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after buying an additional 148 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Canadian National Railway by 738.7% in the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares during the last quarter. ORG Partners LLC purchased a new stake in Canadian National Railway in the second quarter valued at approximately $34,000. Finally, Reston Wealth Management LLC purchased a new stake in Canadian National Railway in the third quarter valued at approximately $41,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Trading Up 1.0 %

NYSE:CNI opened at $109.07 on Wednesday. The stock has a fifty day moving average price of $115.02 and a two-hundred day moving average price of $118.44. The stock has a market capitalization of $68.58 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.43 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. Canadian National Railway has a 1 year low of $107.54 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. Canadian National Railway’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 earnings per share. As a group, sell-side analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a $0.6108 dividend. This represents a $2.44 annualized dividend and a yield of 2.24%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is 39.26%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CNI. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Barclays boosted their price objective on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. 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 note on Friday, October 4th. Finally, Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target for the company in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $125.18.

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.