Westerkirk Capital Inc. Sells 24,400 Shares of Canadian National Railway Company $CNI

Westerkirk Capital Inc. cut its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 65.9% in the 4th quarter, HoldingsChannel reports. The firm owned 12,640 shares of the transportation company’s stock after selling 24,400 shares during the period. Westerkirk Capital Inc.’s holdings in Canadian National Railway were worth $1,251,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Cardinal Point Capital Management ULC lifted its holdings in shares of Canadian National Railway by 28.8% in the 3rd quarter. Cardinal Point Capital Management ULC now owns 124,426 shares of the transportation company’s stock worth $11,730,000 after acquiring an additional 27,857 shares during the last quarter. Lincluden Management Ltd. lifted its holdings in shares of Canadian National Railway by 4.1% in the 3rd quarter. Lincluden Management Ltd. now owns 434,344 shares of the transportation company’s stock worth $40,717,000 after acquiring an additional 17,257 shares during the last quarter. Kensington Investment Counsel LLC bought a new stake in shares of Canadian National Railway in the 3rd quarter worth approximately $3,079,000. Scharf Investments LLC bought a new stake in shares of Canadian National Railway in the 4th quarter worth approximately $8,283,000. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Canadian National Railway in the 3rd quarter worth approximately $32,174,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Up 0.4%

Shares of NYSE CNI opened at $120.92 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $122.48. The firm’s fifty day moving average is $111.96 and its 200 day moving average is $104.89. The company has a market cap of $73.49 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 2.31 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, hitting the consensus estimate of $1.31. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm earned $1.85 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts expect that Canadian National Railway Company will post 5.76 earnings per share for the current year.

Canadian National Railway Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 9th. Canadian National Railway’s payout ratio is presently 48.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CNI shares. Royal Bank Of Canada boosted their price objective on shares of Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. Barclays boosted their price objective on shares of Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Citigroup boosted their price objective on shares of Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings lowered shares of Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Finally, Sanford C. Bernstein boosted their price objective on shares of Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $122.04.

Canadian National Railway Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.