L. Roy Papp & Associates LLP Has $16.50 Million Holdings in Canadian National Railway (NYSE:CNI)

L. Roy Papp & Associates LLP cut its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.2% in the third quarter, Holdings Channel.com reports. The firm owned 140,880 shares of the transportation company’s stock after selling 280 shares during the quarter. Canadian National Railway makes up approximately 2.0% of L. Roy Papp & Associates LLP’s investment portfolio, making the stock its 16th largest position. L. Roy Papp & Associates LLP’s holdings in Canadian National Railway were worth $16,504,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Farrow Financial Inc. boosted its stake in shares of Canadian National Railway by 14.7% during the 3rd quarter. Farrow Financial Inc. now owns 18,440 shares of the transportation company’s stock worth $2,160,000 after buying an additional 2,361 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Canadian National Railway by 11,610.3% during the 3rd quarter. Pathway Financial Advisers LLC now owns 178,114 shares of the transportation company’s stock worth $20,866,000 after buying an additional 176,593 shares during the last quarter. Forsta AP Fonden boosted its stake in shares of Canadian National Railway by 14.6% during the 3rd quarter. Forsta AP Fonden now owns 139,200 shares of the transportation company’s stock worth $16,318,000 after buying an additional 17,700 shares during the last quarter. Outlook Wealth Advisors LLC boosted its stake in shares of Canadian National Railway by 12.7% during the 3rd quarter. Outlook Wealth Advisors LLC now owns 2,690 shares of the transportation company’s stock worth $315,000 after buying an additional 303 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in shares of Canadian National Railway by 1.7% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 13,320 shares of the transportation company’s stock worth $1,560,000 after buying an additional 218 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CNI. Evercore ISI reduced their price objective on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research note on Wednesday. Sanford C. Bernstein dropped their target price on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group dropped their target price on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Bank of America cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their target price for the company from $129.00 to $122.00 in a report on Friday, October 4th. Finally, Susquehanna dropped their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $125.18.

Canadian National Railway Stock Performance

Canadian National Railway stock traded up $0.15 during trading hours on Friday, hitting $110.97. The company had a trading volume of 1,099,195 shares, compared to its average volume of 1,114,600. The firm has a market cap of $70.18 billion, a PE ratio of 17.70, a PEG ratio of 2.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The firm has a 50-day moving average of $115.93 and a 200 day moving average of $119.45.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.49%. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts expect that Canadian National Railway will post 5.5 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.20%. Canadian National Railway’s payout ratio is presently 39.71%.

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.