Reynders McVeigh Capital Management LLC Sells 13,171 Shares of Canadian National Railway Company $CNI

Reynders McVeigh Capital Management LLC lessened its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 18.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,722 shares of the transportation company’s stock after selling 13,171 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Canadian National Railway were worth $6,005,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CNI. Addison Advisors LLC raised its position in Canadian National Railway by 124.0% in the second quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 150 shares during the last quarter. Curio Wealth LLC boosted its position in shares of Canadian National Railway by 31,600.0% during the 2nd quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock worth $33,000 after purchasing an additional 316 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of Canadian National Railway by 354.3% in the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company’s stock valued at $42,000 after buying an additional 333 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Canadian National Railway by 42.7% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 167 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Canadian National Railway in the first quarter worth about $74,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNI has been the topic of a number of analyst reports. CIBC upgraded Canadian National Railway from a “neutral” rating to an “outperformer” rating and boosted their price objective for the company from $146.00 to $151.00 in a research note on Friday, November 28th. Zacks Research upgraded shares of Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Cibc Captl Mkts upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Friday, November 28th. Citigroup upped their price objective on Canadian National Railway from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Susquehanna increased their price target on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.36.

Canadian National Railway Stock Down 0.1%

Shares of NYSE:CNI opened at $97.85 on Monday. The business’s 50 day moving average is $95.60 and its 200 day moving average is $97.44. The stock has a market cap of $60.21 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $108.75. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 0.92.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. Canadian National Railway had a return on equity of 21.50% and a net margin of 26.86%.The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. Canadian National Railway’s revenue was up 1.3% on a year-over-year basis. Sell-side analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be issued a $0.8875 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $3.55 annualized dividend and a dividend yield of 3.6%. Canadian National Railway’s payout ratio is currently 48.01%.

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.