QV Investors Inc. Sells 24,350 Shares of Canadian National Railway Company $CNI

QV Investors Inc. decreased its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 591,760 shares of the transportation company’s stock after selling 24,350 shares during the quarter. Canadian National Railway makes up approximately 5.4% of QV Investors Inc.’s holdings, making the stock its 2nd largest holding. QV Investors Inc.’s holdings in Canadian National Railway were worth $70,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Minot DeBlois Advisors LLC lifted its holdings in shares of Canadian National Railway by 2.0% during the 4th quarter. Minot DeBlois Advisors LLC now owns 5,132 shares of the transportation company’s stock worth $507,000 after acquiring an additional 103 shares during the period. Smartleaf Asset Management LLC raised its stake in Canadian National Railway by 19.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 635 shares of the transportation company’s stock worth $63,000 after purchasing an additional 103 shares during the period. Tacita Capital Inc raised its stake in Canadian National Railway by 0.6% during the fourth quarter. Tacita Capital Inc now owns 19,809 shares of the transportation company’s stock worth $1,960,000 after purchasing an additional 109 shares during the period. Roberts Glore & Co. Inc. IL raised its stake in Canadian National Railway by 1.5% during the fourth quarter. Roberts Glore & Co. Inc. IL now owns 7,233 shares of the transportation company’s stock worth $715,000 after purchasing an additional 110 shares during the period. Finally, Grove Bank & Trust boosted its holdings in shares of Canadian National Railway by 20.4% in the 2nd quarter. Grove Bank & Trust now owns 673 shares of the transportation company’s stock valued at $80,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CNI shares. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a research note on Thursday, June 25th. Canadian Imperial Bank of Commerce lifted their target price on Canadian National Railway from C$182.00 to C$185.00 and gave the company an “outperformer” rating in a report on Thursday, June 25th. Bank of America boosted their price target on Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada upped their price target on Canadian National Railway from $195.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Finally, Citigroup raised their price objective on Canadian National Railway from $124.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.40.

Canadian National Railway Price Performance

CNI opened at $125.89 on Monday. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $131.55. The company has a 50 day moving average of $125.18 and a two-hundred day moving average of $115.68. The company has a market cap of $76.18 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.35 and a beta of 0.95. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Friday, July 24th. The transportation company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.26 billion. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.87 EPS. On average, analysts expect that Canadian National Railway Company will post 5.81 earnings per share for the current year.

Canadian National Railway Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th will be issued a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio is currently 47.34%.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.