Sanctuary Advisors LLC Sells 8,610 Shares of Canadian National Railway (NYSE:CNI)

Sanctuary Advisors LLC lessened its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 30.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,794 shares of the transportation company’s stock after selling 8,610 shares during the period. Sanctuary Advisors LLC’s holdings in Canadian National Railway were worth $2,202,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. XTX Topco Ltd raised its stake in shares of Canadian National Railway by 43.3% in the third quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock worth $1,822,000 after buying an additional 4,698 shares during the period. Unigestion Holding SA boosted its position in shares of Canadian National Railway by 363.6% in the third quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock worth $18,012,000 after purchasing an additional 120,687 shares during the period. Principal Financial Group Inc. raised its position in shares of Canadian National Railway by 29.6% during the 3rd quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock valued at $10,820,000 after purchasing an additional 21,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Canadian National Railway by 5.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after buying an additional 202,303 shares in the last quarter. Finally, Partners Group Holding AG boosted its holdings in Canadian National Railway by 16.3% in the 3rd quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock worth $47,571,000 after buying an additional 56,849 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the company from $126.00 to $130.00 in a report on Tuesday, November 12th. Susquehanna reduced their price target 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, October 23rd. Bank of America lowered Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price target for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Stephens reaffirmed an “equal weight” rating and issued a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price for the company in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $125.86.

Canadian National Railway Stock Performance

Shares of NYSE:CNI opened at $101.40 on Thursday. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $63.79 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 2.43 and a beta of 0.89. Canadian National Railway has a 12 month low of $101.40 and a 12 month high of $134.02. The firm’s 50-day moving average is $109.94 and its 200 day moving average is $114.81.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. Canadian National Railway’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 EPS. Research analysts predict that Canadian National Railway will post 5.31 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.41%. Canadian National Railway’s dividend payout ratio is currently 38.14%.

Canadian National Railway Profile

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.