Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Canadian National Railway Company $CNI

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 48.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,168,232 shares of the transportation company’s stock after selling 2,051,918 shares during the period. Canadian National Railway makes up approximately 0.6% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 29th biggest holding. Connor Clark & Lunn Investment Management Ltd. owned 0.35% of Canadian National Railway worth $204,424,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CNI. EverSource Wealth Advisors LLC increased its position in shares of Canadian National Railway by 10.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 113 shares during the period. ICW Investment Advisors LLC lifted its position in Canadian National Railway by 0.7% during the 3rd quarter. ICW Investment Advisors LLC now owns 16,525 shares of the transportation company’s stock worth $1,558,000 after acquiring an additional 120 shares during the period. M&T Bank Corp grew its stake in Canadian National Railway by 1.9% during the 2nd quarter. M&T Bank Corp now owns 6,629 shares of the transportation company’s stock valued at $690,000 after purchasing an additional 122 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in Canadian National Railway by 1.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 7,014 shares of the transportation company’s stock valued at $661,000 after purchasing an additional 128 shares during the last quarter. Finally, MAI Capital Management increased its holdings in shares of Canadian National Railway by 5.0% in the second quarter. MAI Capital Management now owns 2,933 shares of the transportation company’s stock valued at $305,000 after purchasing an additional 139 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CNI shares. Citigroup reduced their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and upped their target price for the company from $146.00 to $151.00 in a research report on Friday, November 28th. Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Royal Bank Of Canada decreased their price objective on shares of Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, February 2nd. Finally, Barclays dropped their price objective on shares of Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Moderate Buy” and a consensus price target of $118.91.

Canadian National Railway Stock Down 0.2%

Shares of CNI opened at $106.18 on Thursday. The company has a market capitalization of $65.10 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 2.21 and a beta of 0.90. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $113.08. The stock’s 50-day moving average price is $103.44 and its 200-day moving average price is $98.42. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the business earned $1.82 earnings per share. Canadian National Railway’s quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.915 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 annualized dividend and a dividend yield of 3.4%. Canadian National Railway’s payout ratio is presently 49.36%.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.