Pitcairn Co. Has $538,000 Stock Position in Canadian National Railway (NYSE:CNI)

Pitcairn Co. lessened its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,592 shares of the transportation company’s stock after selling 213 shares during the period. Pitcairn Co.’s holdings in Canadian National Railway were worth $538,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CNI. Grove Bank & Trust raised its holdings in shares of Canadian National Railway by 15.3% during the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after acquiring an additional 97 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Canadian National Railway by 2.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after purchasing an additional 100 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Canadian National Railway by 1.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after purchasing an additional 102 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Canadian National Railway by 19.3% in the second quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock worth $77,000 after buying an additional 105 shares during the period. Finally, Doheny Asset Management CA grew its holdings in shares of Canadian National Railway by 3.8% during the second quarter. Doheny Asset Management CA now owns 3,000 shares of the transportation company’s stock valued at $354,000 after buying an additional 110 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Up 0.4 %

Shares of CNI opened at $111.74 on Tuesday. The stock has a fifty day moving average price of $112.96 and a two-hundred day moving average price of $117.00. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The company has a market cap of $70.37 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 2.51 and a beta of 0.89. Canadian National Railway has a 52-week low of $105.28 and a 52-week high of $134.02.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period 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 fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.19%. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.26%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research note on Monday, October 7th. Bank of America cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $129.00 to $122.00 in a report on Friday, October 4th. The Goldman Sachs Group dropped their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI dropped their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.