Canadian National Railway Company $CNI Stake Lowered by Wellington Management Group LLP

Wellington Management Group LLP decreased its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 48.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,675,838 shares of the transportation company’s stock after selling 10,832,887 shares during the period. Wellington Management Group LLP owned 1.89% of Canadian National Railway worth $1,101,265,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CNI. Cardinal Point Capital Management ULC boosted its stake in Canadian National Railway by 28.8% during the 3rd quarter. Cardinal Point Capital Management ULC now owns 124,426 shares of the transportation company’s stock valued at $11,730,000 after purchasing an additional 27,857 shares during the period. Westerkirk Capital Inc. acquired a new stake in shares of Canadian National Railway in the second quarter valued at approximately $3,448,000. Lorne Steinberg Wealth Management Inc. raised its holdings in shares of Canadian National Railway by 23.3% during the third quarter. Lorne Steinberg Wealth Management Inc. now owns 83,095 shares of the transportation company’s stock valued at $7,834,000 after buying an additional 15,715 shares during the last quarter. Cardinal Capital Management Inc. boosted its position in shares of Canadian National Railway by 1.5% during the third quarter. Cardinal Capital Management Inc. now owns 742,230 shares of the transportation company’s stock worth $70,038,000 after buying an additional 10,880 shares during the period. Finally, Nicola Wealth Management LTD. grew its holdings in Canadian National Railway by 13.9% in the 3rd quarter. Nicola Wealth Management LTD. now owns 198,800 shares of the transportation company’s stock worth $18,749,000 after buying an additional 24,200 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Up 1.1%

CNI opened at $104.98 on Friday. The firm has a market cap of $64.37 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 2.16 and a beta of 0.90. The firm’s 50-day simple moving average is $103.64 and its 200-day simple moving average is $98.53. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $113.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, topping 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 business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the business earned $1.82 EPS. Canadian National Railway’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a $0.915 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, March 10th. Canadian National Railway’s dividend payout ratio (DPR) is presently 49.36%.

Analysts Set New Price Targets

Several analysts have weighed in on CNI shares. Canadian Imperial Bank of Commerce raised Canadian National Railway from a “hold” rating to an “outperformer” rating and lifted their target price for the company from $146.00 to $151.00 in a research note on Friday, November 28th. UBS Group cut shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Stephens reduced their price objective on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, February 2nd. Evercore decreased their target price on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a research report on Monday, February 2nd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Ten equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Moderate Buy” and an average target price of $118.91.

Canadian National Railway Company Profile

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.