Prime Capital Investment Advisors LLC Reduces Stock Position in Canadian National Railway (NYSE:CNI)

Prime Capital Investment Advisors LLC lessened its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.1% during the third quarter, Holdings Channel reports. The firm owned 3,783 shares of the transportation company’s stock after selling 160 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Canadian National Railway were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Canadian National Railway during the 2nd quarter worth approximately $26,000. Addison Advisors LLC grew its stake in Canadian National Railway by 159.1% in the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC raised its holdings in Canadian National Railway by 738.7% in the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after purchasing an additional 229 shares in the last quarter. ORG Partners LLC purchased a new position in Canadian National Railway during the second quarter valued at $34,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Canadian National Railway during the 3rd quarter valued at $41,000. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CNI shares. 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 on the stock in a research note on Monday, October 7th. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and cut their price target for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. Sanford C. Bernstein lowered their price objective on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Barclays boosted their target price on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $125.48.

Canadian National Railway Stock Down 1.0 %

Canadian National Railway stock opened at $108.90 on Friday. The business has a fifty day moving average price of $114.04 and a 200-day moving average price of $117.73. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. Canadian National Railway has a 1-year low of $107.54 and a 1-year high of $134.02. The stock has a market capitalization of $68.58 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.49 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the business posted $1.26 EPS. Canadian National Railway’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

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

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.