Canadian National Railway (NYSE:CNI) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,120 shares of the transportation company’s stock after selling 147 shares during the period. Kingsview Wealth Management LLC’s holdings in Canadian National Railway were worth $366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Canadian National Railway during the second quarter valued at $26,000. Addison Advisors LLC lifted its position in Canadian National Railway by 159.1% during the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC lifted its position in Canadian National Railway by 738.7% during the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares during the period. Coastline Trust Co acquired a new position in Canadian National Railway during the third quarter valued at $34,000. Finally, ORG Partners LLC acquired a new position in Canadian National Railway during the second quarter valued at $34,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

CNI opened at $111.26 on Friday. The firm has a market capitalization of $70.07 billion, a PE ratio of 17.83, a PEG ratio of 2.48 and a beta of 0.89. Canadian National Railway has a twelve month low of $105.28 and a twelve month high of $134.02. The firm’s 50-day moving average price is $112.50 and its 200 day moving average price is $116.80. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.

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 analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. Canadian National Railway’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 earnings per share. As a group, sell-side analysts expect that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently declared 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 of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. Canadian National Railway’s payout ratio is presently 39.90%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CNI shares. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Bank of America cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating and cut their price objective for the company from $129.00 to $122.00 in a report on Friday, October 4th. Evercore ISI cut their price objective on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. 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 report on Monday, October 7th. Finally, Barclays lifted their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $125.86.

Canadian National Railway Company Profile

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.