Graham Capital Management L.P. Cuts Position in Canadian National Railway (NYSE:CNI)

Graham Capital Management L.P. lessened its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 65.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,785 shares of the transportation company’s stock after selling 12,588 shares during the quarter. Graham Capital Management L.P.’s holdings in Canadian National Railway were worth $689,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Focus Partners Wealth lifted its stake in shares of Canadian National Railway by 6.7% in the 4th quarter. Focus Partners Wealth now owns 10,368 shares of the transportation company’s stock valued at $1,078,000 after purchasing an additional 655 shares during the last quarter. Eisler Capital Management Ltd. bought a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $15,270,000. Elefante Mark B bought a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $2,804,000. Ewing Morris & Co. Investment Partners Ltd. bought a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $235,000. Finally, FORA Capital LLC lifted its stake in shares of Canadian National Railway by 5.7% during the 4th quarter. FORA Capital LLC now owns 32,706 shares of the transportation company’s stock worth $3,320,000 after acquiring an additional 1,759 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $106.78 on Thursday. The firm has a market cap of $67.11 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.95 and a beta of 0.97. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. Canadian National Railway has a 12 month low of $91.65 and a 12 month high of $129.18. The stock’s fifty day moving average price is $98.33 and its 200-day moving average price is $102.60.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $4.38 billion. Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.72 earnings per share. On average, equities research analysts expect that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their price target on Canadian National Railway from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Stephens raised their price target on Canadian National Railway from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Stifel Nicolaus decreased their price target on Canadian National Railway from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Raymond James lowered Canadian National Railway from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Loop Capital lowered Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.27.

About Canadian National Railway

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.