ARS Investment Partners LLC Trims Holdings in Canadian National Railway (CNI)

ARS Investment Partners LLC cut its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,447 shares of the transportation company’s stock after selling 650 shares during the quarter. ARS Investment Partners LLC’s holdings in Canadian National Railway were worth $1,567,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Foundation Advisors purchased a new position in Canadian National Railway during the 3rd quarter worth $4,282,000. Allianz Asset Management GmbH grew its position in Canadian National Railway by 74.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 103,289 shares of the transportation company’s stock worth $9,259,000 after purchasing an additional 44,054 shares during the last quarter. Raymond James Trust N.A. purchased a new position in Canadian National Railway during the 3rd quarter worth $201,000. AMP Capital Investors Ltd grew its position in Canadian National Railway by 3.4% during the 3rd quarter. AMP Capital Investors Ltd now owns 489,282 shares of the transportation company’s stock worth $44,136,000 after purchasing an additional 15,953 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Canadian National Railway by 8.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,024,202 shares of the transportation company’s stock worth $719,484,000 after purchasing an additional 628,194 shares during the last quarter. Institutional investors and hedge funds own 53.77% of the company’s stock.

CNI has been the topic of several research reports. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating in a research report on Thursday, October 18th. Zacks Investment Research downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Tuesday, September 25th. Credit Suisse Group raised their price objective on shares of Canadian National Railway from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 24th. Finally, BMO Capital Markets downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $91.53.

Shares of NYSE:CNI opened at $85.82 on Friday. The stock has a market capitalization of $62.04 billion, a PE ratio of 22.35, a PEG ratio of 2.18 and a beta of 0.97. The company has a current ratio of 0.72, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. Canadian National Railway has a fifty-two week low of $70.59 and a fifty-two week high of $91.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 23rd. The transportation company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.38. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.58 billion. Canadian National Railway had a net margin of 42.06% and a return on equity of 22.67%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 earnings per share. On average, equities analysts predict that Canadian National Railway will post 4.18 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be issued a $0.3477 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, December 6th. This represents a $1.39 annualized dividend and a dividend yield of 1.62%. Canadian National Railway’s payout ratio is presently 35.94%.

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Canadian National Railway Profile

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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