Parsons Capital Management Inc. RI Sells 2,167 Shares of Canadian National Railway Company $CNI

Parsons Capital Management Inc. RI lessened its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 13.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,407 shares of the transportation company’s stock after selling 2,167 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Canadian National Railway were worth $1,395,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CNI. Dagco Inc. acquired a new position in Canadian National Railway during the first quarter worth $32,000. Bruce G. Allen Investments LLC increased its holdings in Canadian National Railway by 44.2% during the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company’s stock worth $34,000 after buying an additional 106 shares during the last quarter. CX Institutional acquired a new position in Canadian National Railway during the first quarter worth $39,000. Brooklyn Investment Group increased its holdings in Canadian National Railway by 354.3% during the first quarter. Brooklyn Investment Group now owns 427 shares of the transportation company’s stock worth $42,000 after buying an additional 333 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Canadian National Railway by 42.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock worth $58,000 after buying an additional 167 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CNI. Evercore ISI downgraded shares of Canadian National Railway from an “outperform” rating to an “in-line” rating and set a $105.00 target price on the stock. in a report on Wednesday, July 23rd. Bank of America lowered their target price on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a report on Monday. Barclays lowered their target price on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a report on Thursday. Argus upgraded shares of Canadian National Railway to a “hold” rating in a report on Friday, June 27th. Finally, National Bank Financial lowered shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $116.69.

Canadian National Railway Price Performance

NYSE:CNI opened at $94.42 on Friday. Canadian National Railway Company has a 52 week low of $91.07 and a 52 week high of $116.79. The firm has a market cap of $58.61 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 2.11 and a beta of 0.96. The firm’s 50-day simple moving average is $94.35 and its 200 day simple moving average is $99.02. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the prior year, the business 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, sell-side analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 8th were paid a dividend of $0.6507 per share. The ex-dividend date was Monday, September 8th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. Canadian National Railway’s dividend payout ratio is currently 50.19%.

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.