Swiss National Bank Sells 8,500 Shares of Canadian National Railway (NYSE:CNI)

Swiss National Bank decreased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,625,600 shares of the transportation company’s stock after selling 8,500 shares during the quarter. Swiss National Bank’s holdings in Canadian National Railway were worth $190,659,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Trustmark National Bank Trust Department boosted its position in Canadian National Railway by 24.6% during the first quarter. Trustmark National Bank Trust Department now owns 2,536 shares of the transportation company’s stock worth $334,000 after purchasing an additional 500 shares during the period. Bessemer Group Inc. lifted its stake in shares of Canadian National Railway by 290.2% during the 1st quarter. Bessemer Group Inc. now owns 36,746 shares of the transportation company’s stock valued at $4,839,000 after buying an additional 27,328 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in Canadian National Railway in the 1st quarter worth approximately $954,000. CANADA LIFE ASSURANCE Co grew its stake in Canadian National Railway by 17.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 324,334 shares of the transportation company’s stock valued at $42,700,000 after buying an additional 49,297 shares in the last quarter. Finally, GQG Partners LLC raised its holdings in Canadian National Railway by 0.8% during the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock valued at $1,505,000 after acquiring an additional 93 shares during the period. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Down 1.0 %

Shares of CNI opened at $108.90 on Monday. Canadian National Railway has a fifty-two week low of $107.54 and a fifty-two week high of $134.02. The firm has a market cap of $68.58 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.46 and a beta of 0.89. The firm has a 50 day moving average price of $114.04 and a 200-day moving average price of $117.68. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share 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 business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities research analysts forecast that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a yield of 2.24%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is presently 39.26%.

Analyst Ratings Changes

CNI has been the subject of several recent research reports. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Evercore ISI decreased their price target on 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 report on Wednesday, October 9th. Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research note on Monday, October 7th. Finally, The Goldman Sachs Group lowered their target price on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $125.48.

About Canadian National Railway

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.