Investment Management Corp of Ontario Cuts Holdings in Canadian National Railway (NYSE:CNI)

Investment Management Corp of Ontario decreased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 10.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,630 shares of the transportation company’s stock after selling 2,900 shares during the period. Investment Management Corp of Ontario’s holdings in Canadian National Railway were worth $2,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNI. Cetera Advisors LLC increased its holdings in Canadian National Railway by 42.4% in the first quarter. Cetera Advisors LLC now owns 10,191 shares of the transportation company’s stock valued at $1,342,000 after buying an additional 3,032 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Canadian National Railway by 151.7% in the second quarter. GAMMA Investing LLC now owns 589 shares of the transportation company’s stock valued at $70,000 after purchasing an additional 355 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Canadian National Railway in the second quarter valued at about $26,000. CWM LLC grew its position in shares of Canadian National Railway by 31.9% in the second quarter. CWM LLC now owns 5,303 shares of the transportation company’s stock valued at $626,000 after purchasing an additional 1,282 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its position in shares of Canadian National Railway by 18.9% in the second quarter. Linden Thomas Advisory Services LLC now owns 2,092 shares of the transportation company’s stock valued at $247,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Stephens reiterated an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Evercore ISI lowered 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 report on Wednesday, October 23rd. Sanford C. Bernstein lowered their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Susquehanna lowered 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 research report on Wednesday, October 23rd. Finally, Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, thirteen 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.com, the company currently has a consensus rating of “Hold” and a consensus price target of $125.86.

Canadian National Railway Price Performance

Shares of CNI opened at $109.66 on Thursday. Canadian National Railway has a fifty-two week low of $105.28 and a fifty-two week high of $134.02. The firm’s 50 day moving average price is $111.98 and its 200 day moving average price is $116.28. The company has a market cap of $69.06 billion, a P/E ratio of 17.57, a PEG ratio of 2.55 and a beta of 0.89. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The firm’s revenue was up 3.1% on a year-over-year basis. On average, research analysts forecast that Canadian National Railway will post 5.33 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is 39.26%.

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.