Elefante Mark B Reduces Stake in Canadian National Railway Company $CNI

Elefante Mark B lowered its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 26,943 shares of the transportation company’s stock after selling 1,810 shares during the quarter. Canadian National Railway makes up about 2.1% of Elefante Mark B’s investment portfolio, making the stock its 24th largest holding. Elefante Mark B’s holdings in Canadian National Railway were worth $2,803,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dagco Inc. purchased a new stake in Canadian National Railway in the 1st quarter worth approximately $32,000. CX Institutional purchased a new stake in Canadian National Railway in the 1st quarter worth approximately $39,000. Brooklyn Investment Group lifted its holdings in Canadian National Railway by 354.3% in the 1st 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 period. MassMutual Private Wealth & Trust FSB lifted its holdings in Canadian National Railway by 42.7% in the 2nd 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 period. Finally, GAMMA Investing LLC lifted its holdings in Canadian National Railway by 31.3% in the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company’s stock worth $70,000 after buying an additional 171 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CNI shares. Citigroup lowered their target price on Canadian National Railway from $121.00 to $119.00 and set a “buy” rating for the company in a research note on Monday. Wall Street Zen cut Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Saturday, October 4th. Argus upgraded Canadian National Railway to a “hold” rating in a research note on Friday, June 27th. Wells Fargo & Company lowered their target price on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, October 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $113.90.

Canadian National Railway Stock Up 1.8%

Shares of NYSE:CNI opened at $96.15 on Tuesday. The stock has a fifty day simple moving average of $94.59 and a two-hundred day simple moving average of $98.93. The stock has a market capitalization of $59.69 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 2.14 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. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 EPS. On average, research analysts anticipate that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal 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 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 2.7%. Canadian National Railway’s dividend payout ratio (DPR) is presently 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.