Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 32,081 Shares of Canadian National Railway Company $CNI

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 2.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,392,998 shares of the transportation company’s stock after selling 32,081 shares during the period. Canadian National Railway accounts for about 1.2% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 27th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Canadian National Railway were worth $133,672,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TD Asset Management Inc grew its stake in shares of Canadian National Railway by 2.3% during the second quarter. TD Asset Management Inc now owns 12,072,540 shares of the transportation company’s stock worth $1,255,385,000 after acquiring an additional 273,974 shares during the last quarter. Founders Capital Management LLC purchased a new position in shares of Canadian National Railway in the 2nd quarter valued at approximately $3,335,000. Westerkirk Capital Inc. acquired a new stake in Canadian National Railway in the 2nd quarter worth approximately $3,448,000. Cardinal Capital Management Inc. grew its position in Canadian National Railway by 3.1% during the 2nd quarter. Cardinal Capital Management Inc. now owns 731,350 shares of the transportation company’s stock worth $76,178,000 after purchasing an additional 22,035 shares during the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its stake in Canadian National Railway by 9.8% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 802,257 shares of the transportation company’s stock valued at $83,646,000 after purchasing an additional 71,364 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CNI. Barclays lowered their price objective on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a research note on Thursday, October 2nd. Royal Bank Of Canada lifted their price target on Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Susquehanna increased their price objective on Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Wall Street Zen raised Canadian National Railway from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Evercore ISI increased their price target on shares of Canadian National Railway from $98.00 to $103.00 and gave the stock an “in-line” rating in a report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and an average price target of $117.27.

Canadian National Railway Stock Performance

NYSE CNI opened at $98.95 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.42 and a current ratio of 0.60. The stock’s fifty day moving average is $96.91 and its two-hundred day moving average is $96.70. The firm has a market capitalization of $60.80 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $108.75.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.28 by $0.05. Canadian National Railway had a return on equity of 21.50% and a net margin of 26.86%.The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the firm earned $1.72 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts anticipate 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 was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th were paid a $0.8875 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $3.55 annualized dividend and a dividend yield of 3.6%. Canadian National Railway’s dividend payout ratio is currently 48.01%.

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.