Envestnet Asset Management Inc. Lowers Stock Position in Canadian National Railway Company $CNI

Envestnet Asset Management Inc. cut its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 13.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 230,587 shares of the transportation company’s stock after selling 34,426 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Canadian National Railway were worth $21,744,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNI. Creative Financial Designs Inc. ADV boosted its stake in shares of Canadian National Railway by 13.4% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 929 shares of the transportation company’s stock worth $97,000 after buying an additional 110 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Canadian National Railway by 5.3% during the second quarter. D.A. Davidson & CO. now owns 2,374 shares of the transportation company’s stock worth $247,000 after acquiring an additional 119 shares during the period. M&T Bank Corp lifted its holdings in Canadian National Railway by 1.9% during the second quarter. M&T Bank Corp now owns 6,629 shares of the transportation company’s stock worth $690,000 after acquiring an additional 122 shares during the period. Foundations Investment Advisors LLC boosted its position in Canadian National Railway by 1.9% in the third quarter. Foundations Investment Advisors LLC now owns 7,014 shares of the transportation company’s stock worth $661,000 after purchasing an additional 128 shares during the last quarter. Finally, MAI Capital Management grew its stake in Canadian National Railway by 5.0% in the 2nd 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. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CNI. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a research note on Friday, November 28th. UBS Group lowered shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Vertical Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Stephens dropped their price objective on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Monday, February 2nd. Finally, 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 report on Monday, February 2nd. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.91.

Canadian National Railway Trading Up 0.2%

Shares of Canadian National Railway stock opened at $107.55 on Friday. The company’s 50-day moving average price is $99.48 and its 200-day moving average price is $96.43. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $108.75. The company has a market cap of $65.94 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.25 and a beta of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the firm posted $1.82 EPS. Canadian National Railway’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a dividend of $0.915 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Canadian National Railway’s dividend payout ratio is 46.59%.

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.