Northern Trust Corp cut its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 995,906 shares of the transportation company’s stock after selling 38,227 shares during the period. Northern Trust Corp owned approximately 0.14% of Canadian National Railway worth $73,807,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Intercontinental Wealth Advisors LLC acquired a new stake in Canadian National Railway during the fourth quarter worth about $30,000. Bremer Trust National Association acquired a new stake in Canadian National Railway during the fourth quarter worth about $42,000. Truehand Inc acquired a new stake in Canadian National Railway during the fourth quarter worth about $44,000. Contravisory Investment Management Inc. acquired a new stake in Canadian National Railway during the fourth quarter worth about $45,000. Finally, Clean Yield Group acquired a new stake in Canadian National Railway during the fourth quarter worth about $46,000. 54.40% of the stock is currently owned by institutional investors and hedge funds.
NYSE:CNI opened at $87.59 on Friday. Canadian National Railway has a one year low of $70.36 and a one year high of $91.90. The company has a quick ratio of 0.62, a current ratio of 0.78 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $63.50 billion, a P/E ratio of 21.06, a P/E/G ratio of 1.77 and a beta of 1.07.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, January 29th. The transportation company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.11 by $0.38. Canadian National Railway had a return on equity of 23.28% and a net margin of 30.19%. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter last year, the firm earned $1.20 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts anticipate that Canadian National Railway will post 4.74 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be issued a $0.4026 dividend. This represents a $1.61 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, March 7th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.35. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.18%.
CNI has been the topic of several analyst reports. Raymond James reaffirmed a “buy” rating on shares of Canadian National Railway in a report on Tuesday, December 11th. Deutsche Bank raised their target price on Canadian National Railway from $96.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 3rd. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Monday, November 19th. Barclays reiterated a “hold” rating and set a $86.00 price target on shares of Canadian National Railway in a research report on Thursday, January 17th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Canadian National Railway in a research report on Sunday, December 16th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Canadian National Railway currently has an average rating of “Hold” and an average target price of $92.16.
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Canadian National Railway Profile
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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