Canadian National Railway Company (NYSE:CNI) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN lessened its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,801 shares of the transportation company’s stock after selling 1,447 shares during the quarter. Patten & Patten Inc. TN’s holdings in Canadian National Railway were worth $7,485,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. boosted its holdings in Canadian National Railway by 233.3% in the fourth quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company’s stock worth $2,537,000 after purchasing an additional 17,500 shares during the period. Cypress Asset Management Inc. TX acquired a new position in shares of Canadian National Railway during the fourth quarter valued at $875,000. GAMMA Investing LLC boosted its holdings in shares of Canadian National Railway by 31.3% during the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company’s stock valued at $70,000 after acquiring an additional 171 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Canadian National Railway by 3.7% during the first quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company’s stock valued at $9,185,000 after acquiring an additional 3,400 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Canadian National Railway by 60.6% during the first quarter. SG Americas Securities LLC now owns 9,729 shares of the transportation company’s stock valued at $948,000 after acquiring an additional 3,671 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $95.87 on Monday. Canadian National Railway Company has a twelve month low of $91.65 and a twelve month high of $121.12. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $60.06 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 2.13 and a beta of 0.97. The firm has a 50-day moving average of $103.72 and a two-hundred day moving average of $101.47.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the company posted $1.84 earnings per share. Canadian National Railway’s revenue was down 1.3% compared to the same quarter last year. As a group, analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be issued a $0.6507 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.71%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, September 8th. Canadian National Railway’s dividend payout ratio is presently 49.81%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CNI shares. National Bank Financial downgraded shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 23rd. Bank of America boosted their price target on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Wall Street Zen raised shares of Canadian National Railway from a “sell” rating to a “hold” rating in a report on Friday, May 30th. Stephens boosted their price target on shares of Canadian National Railway from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Finally, Citigroup reduced their price target on shares of Canadian National Railway from $124.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $118.36.

Canadian National Railway 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.