Planning Capital Management Corp Cuts Stock Holdings in Canadian National Railway (NYSE:CNI)

Planning Capital Management Corp trimmed its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 52.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 449 shares of the transportation company’s stock after selling 500 shares during the quarter. Planning Capital Management Corp’s holdings in Canadian National Railway were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Canadian National Railway during the second quarter valued at about $26,000. Addison Advisors LLC lifted its position in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after buying an additional 148 shares during the last quarter. Fortitude Family Office LLC increased its holdings in Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after acquiring an additional 229 shares during the last quarter. ORG Partners LLC purchased a new stake in Canadian National Railway during the second quarter valued at about $34,000. Finally, Reston Wealth Management LLC bought a new position in Canadian National Railway during the third quarter worth about $41,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Down 1.2 %

CNI opened at $110.07 on Friday. The firm has a market capitalization of $69.21 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 2.52 and a beta of 0.89. Canadian National Railway has a one year low of $107.54 and a one year high of $134.02. The business has a 50 day simple moving average of $114.31 and a two-hundred day simple moving average of $117.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the business posted $1.26 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. Analysts predict that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed 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. This represents a $2.44 annualized dividend and a yield of 2.22%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 39.26%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Bank of America lowered shares of Canadian National Railway from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Stifel Nicolaus raised their price objective on shares of Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Susquehanna lowered 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 research note on Wednesday, October 23rd. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the stock from $126.00 to $130.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $125.48.

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.