Pinnacle Associates Ltd. Lowers Position in Canadian National Railway Company $CNI

Pinnacle Associates Ltd. lessened its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,584 shares of the transportation company’s stock after selling 7,455 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Canadian National Railway were worth $11,371,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CNI. Guardian Partners Inc. raised its stake in Canadian National Railway by 0.8% in the third quarter. Guardian Partners Inc. now owns 237,954 shares of the transportation company’s stock valued at $22,531,000 after purchasing an additional 1,823 shares in the last quarter. First Trust Advisors LP grew its stake in Canadian National Railway by 9.2% in the 3rd quarter. First Trust Advisors LP now owns 409,077 shares of the transportation company’s stock worth $38,576,000 after buying an additional 34,314 shares in the last quarter. Guardian Capital LP increased its holdings in shares of Canadian National Railway by 4.1% in the 3rd quarter. Guardian Capital LP now owns 359,196 shares of the transportation company’s stock worth $33,880,000 after buying an additional 14,282 shares during the last quarter. Foresight Global Investors Inc. raised its position in shares of Canadian National Railway by 0.7% during the 3rd quarter. Foresight Global Investors Inc. now owns 155,604 shares of the transportation company’s stock valued at $14,673,000 after buying an additional 1,109 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Canadian National Railway by 23.1% during the 3rd quarter. Barclays PLC now owns 186,479 shares of the transportation company’s stock valued at $17,585,000 after buying an additional 35,044 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $106.86 on Monday. The stock has a market cap of $65.52 billion, a PE ratio of 19.68, a PEG ratio of 2.22 and a beta of 0.90. The company’s fifty day moving average is $102.98 and its 200 day moving average is $98.19. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $113.08. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be paid a $0.915 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.4%. Canadian National Railway’s dividend payout ratio is presently 49.36%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stephens cut their target price on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, February 2nd. BMO Capital Markets restated an “outperform” rating on shares of Canadian National Railway in a research report on Monday, February 2nd. Citigroup cut 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. Evercore reduced their price objective on Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a research report on Monday, February 2nd. Finally, UBS Group cut Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.91.

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.