ARS Investment Partners LLC Reduces Holdings in Canadian National Railway Company $CNI

ARS Investment Partners LLC reduced its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 33.4% in the 3rd quarter, Holdings Channel reports. The firm owned 10,938 shares of the transportation company’s stock after selling 5,477 shares during the quarter. ARS Investment Partners LLC’s holdings in Canadian National Railway were worth $1,031,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Addison Advisors LLC boosted its stake in Canadian National Railway by 124.0% during the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock worth $28,000 after purchasing an additional 150 shares during the last quarter. Curio Wealth LLC lifted its stake in shares of Canadian National Railway by 31,600.0% in the second quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock worth $33,000 after buying an additional 316 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Canadian National Railway by 42.7% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock worth $58,000 after acquiring an additional 167 shares during the last quarter. Private Trust Co. NA grew its stake in Canadian National Railway by 30.8% during the 3rd quarter. Private Trust Co. NA now owns 603 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 142 shares in the last quarter. Finally, Caldwell Trust Co purchased a new stake in Canadian National Railway during the 2nd quarter valued at about $68,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Down 0.3%

Shares of CNI opened at $98.50 on Thursday. The company’s 50-day moving average price is $95.93 and its 200 day moving average price is $97.10. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $108.75. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 0.92. The firm has a market cap of $60.62 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 2.22 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business earned $1.72 earnings per share. On average, sell-side analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.6%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date is Tuesday, December 9th. Canadian National Railway’s payout ratio is currently 48.01%.

Analysts Set New Price Targets

CNI has been the topic of a number of research reports. Bank of America decreased their target price on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Canadian National Railway in a report on Wednesday, October 8th. CIBC upgraded Canadian National Railway from a “neutral” rating to an “outperformer” rating and lifted their price objective for the stock from $146.00 to $151.00 in a research report on Friday, November 28th. Barclays lowered their price objective on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 2nd. Finally, Susquehanna raised their target price on Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $117.36.

Canadian National Railway 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.