Summerhill Capital Management lnc. Cuts Position in Canadian National Railway (NYSE:CNI)

Summerhill Capital Management lnc. decreased its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,411 shares of the transportation company’s stock after selling 2,537 shares during the quarter. Canadian National Railway accounts for about 3.8% of Summerhill Capital Management lnc.’s holdings, making the stock its 14th largest holding. Summerhill Capital Management lnc.’s holdings in Canadian National Railway were worth $5,364,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Canadian National Railway in the second quarter valued at approximately $26,000. GAMMA Investing LLC raised its position in shares of Canadian National Railway by 766.7% in the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock valued at $31,000 after buying an additional 207 shares during the last quarter. Addison Advisors LLC boosted 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 worth $28,000 after acquiring an additional 148 shares during the last quarter. ORG Partners LLC purchased a new stake in Canadian National Railway during the 2nd quarter valued at about $34,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Canadian National Railway in the 1st quarter valued at about $64,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of CNI opened at $118.77 on Monday. The firm has a market capitalization of $75.11 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 2.54 and a beta of 0.88. The firm’s fifty day simple moving average is $116.19 and its 200-day simple moving average is $122.49. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period last year, the firm earned $1.31 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts forecast that Canadian National Railway will post 5.58 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.614 per share. The ex-dividend date is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a yield of 2.07%. Canadian National Railway’s payout ratio is currently 39.07%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CNI shares. StockNews.com lowered Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Stephens dropped their price target on shares of Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Barclays decreased their price objective on shares of Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Sanford C. Bernstein lowered Canadian National Railway from an “outperform” rating to a “market perform” rating and cut their target price for the company from $146.25 to $130.67 in a research report on Monday, July 8th. Finally, Wells Fargo & Company decreased their price target on Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Sixteen equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and an average price target of $137.35.

Canadian National Railway 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.