Sterling Investment Management LLC Decreases Stake in Canadian National Railway Company $CNI

Sterling Investment Management LLC lessened its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 25.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,845 shares of the transportation company’s stock after selling 12,958 shares during the period. Canadian National Railway accounts for approximately 2.1% of Sterling Investment Management LLC’s investment portfolio, making the stock its 15th biggest position. Sterling Investment Management LLC’s holdings in Canadian National Railway were worth $3,569,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CNI. TD Asset Management Inc boosted its stake in Canadian National Railway by 2.3% during the second quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock worth $1,255,385,000 after buying an additional 273,974 shares during the last quarter. Founders Capital Management LLC purchased a new position in shares of Canadian National Railway during the 2nd quarter worth $3,335,000. Westerkirk Capital Inc. acquired a new position in shares of Canadian National Railway during the 2nd quarter valued at about $3,448,000. Goldman Sachs Group Inc. boosted its position in shares of Canadian National Railway by 39.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,664,618 shares of the transportation company’s stock valued at $259,694,000 after acquiring an additional 755,518 shares during the last quarter. Finally, Cardinal Capital Management Inc. grew its holdings in shares of Canadian National Railway by 3.1% in the second quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company’s stock valued at $76,178,000 after purchasing an additional 22,035 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of CNI opened at $99.32 on Wednesday. The company has a market capitalization of $61.12 billion, a price-to-earnings ratio of 18.85, a price-to-earnings-growth ratio of 2.24 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. The stock has a 50 day moving average price of $96.24 and a 200 day moving average price of $96.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data 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 net margin of 26.86% and a return on equity of 21.50%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the company earned $1.72 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts predict that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th were issued a dividend of $0.8875 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 annualized dividend and a dividend yield of 3.6%. Canadian National Railway’s dividend payout ratio is 48.01%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, October 6th. Barclays reduced their target price on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a report on Thursday, October 2nd. Evercore ISI lifted their price target on shares of Canadian National Railway from $98.00 to $103.00 and gave the stock an “in-line” rating in a research note on Monday, November 3rd. Cibc Captl Mkts raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Finally, CIBC upgraded shares of Canadian National Railway from a “neutral” rating to an “outperformer” rating and raised their price objective for the company from $146.00 to $151.00 in a report on Friday, November 28th. Two investment 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 assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.36.

Canadian National Railway Company Profile

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.