Canadian National Railway Company $CNI Shares Sold by Somerville Kurt F

Somerville Kurt F lessened its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.0% during the third quarter, HoldingsChannel.com reports. The firm owned 118,740 shares of the transportation company’s stock after selling 6,190 shares during the period. Canadian National Railway makes up approximately 1.9% of Somerville Kurt F’s holdings, making the stock its 22nd biggest holding. Somerville Kurt F’s holdings in Canadian National Railway were worth $11,197,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cardinal Point Capital Management ULC raised its holdings in shares of Canadian National Railway by 28.8% during the third quarter. Cardinal Point Capital Management ULC now owns 124,426 shares of the transportation company’s stock valued at $11,730,000 after buying an additional 27,857 shares during the last quarter. Westerkirk Capital Inc. bought a new position in Canadian National Railway in the 2nd quarter worth approximately $3,448,000. Scheer Rowlett & Associates Investment Management Ltd. increased its position in Canadian National Railway by 9.8% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 802,257 shares of the transportation company’s stock valued at $83,646,000 after acquiring an additional 71,364 shares during the period. Lorne Steinberg Wealth Management Inc. raised its stake in Canadian National Railway by 23.3% during the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 83,095 shares of the transportation company’s stock valued at $7,834,000 after acquiring an additional 15,715 shares in the last quarter. Finally, Cardinal Capital Management Inc. boosted its position in Canadian National Railway by 1.5% during the 3rd quarter. Cardinal Capital Management Inc. now owns 742,230 shares of the transportation company’s stock worth $70,038,000 after acquiring an additional 10,880 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE CNI traded up $0.66 on Friday, hitting $110.09. 87,950 shares of the stock traded hands, compared to its average volume of 1,673,552. The firm has a market capitalization of $67.50 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. The business’s fifty day moving average is $100.30 and its two-hundred day moving average is $96.83. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $110.31.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. Canadian National Railway’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.82 earnings per share. As a group, equities analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.915 per share. The ex-dividend date is Tuesday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 annualized dividend and a dividend yield of 3.3%. Canadian National Railway’s dividend payout ratio (DPR) is 46.59%.

Analyst Ratings Changes

CNI has been the subject of a number of research reports. Vertical Research raised Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Citigroup lowered their target price on shares of Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Stephens decreased their price objective on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. UBS Group lowered Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Canadian National Railway in a research report on Monday, February 2nd. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.91.

Canadian National Railway Company 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.