Somerville Kurt F Sells 6,955 Shares of Canadian National Railway Company $CNI

Somerville Kurt F decreased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,930 shares of the transportation company’s stock after selling 6,955 shares during the quarter. Canadian National Railway accounts for approximately 2.2% of Somerville Kurt F’s holdings, making the stock its 22nd largest holding. Somerville Kurt F’s holdings in Canadian National Railway were worth $12,998,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CNI. Kingstone Capital Partners Texas LLC bought a new stake in Canadian National Railway in the 2nd quarter valued at approximately $310,489,000. The Manufacturers Life Insurance Company raised its holdings in shares of Canadian National Railway by 37.3% in the first quarter. The Manufacturers Life Insurance Company now owns 5,296,701 shares of the transportation company’s stock valued at $518,260,000 after purchasing an additional 1,439,617 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Canadian National Railway in the first quarter valued at approximately $112,216,000. Price T Rowe Associates Inc. MD lifted its position in shares of Canadian National Railway by 20.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,638,443 shares of the transportation company’s stock worth $646,983,000 after purchasing an additional 1,148,569 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Canadian National Railway by 39.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock worth $259,694,000 after purchasing an additional 755,518 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

NYSE:CNI opened at $96.87 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90. The stock’s 50 day moving average price is $94.42 and its two-hundred day moving average price is $99.02. The firm has a market capitalization of $60.14 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 2.16 and a beta of 0.96. Canadian National Railway Company has a 12-month low of $91.07 and a 12-month high of $116.79.

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

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 8th were issued a $0.6507 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, September 8th. Canadian National Railway’s dividend payout ratio is presently 50.19%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CNI shares. Wall Street Zen lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Saturday. Argus upgraded Canadian National Railway to a “hold” rating in a report on Friday, June 27th. Barclays reduced their price target on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a research report on Thursday, October 2nd. Bank of America decreased their price target on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Finally, Royal Bank Of Canada dropped their price objective on Canadian National Railway from $161.00 to $157.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $116.11.

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.