Carret Asset Management LLC Has $3.15 Million Stake in Canadian National Railway (NYSE:CNI)

Carret Asset Management LLC lowered its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 25.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 26,926 shares of the transportation company’s stock after selling 9,300 shares during the period. Carret Asset Management LLC’s holdings in Canadian National Railway were worth $3,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNI. Canada Pension Plan Investment Board lifted its stake in shares of Canadian National Railway by 92.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock valued at $593,911,000 after purchasing an additional 2,163,820 shares during the last quarter. Capital International Investors raised its holdings in Canadian National Railway by 18.1% during the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after buying an additional 1,379,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Canadian National Railway by 4,614.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after buying an additional 1,307,689 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Canadian National Railway in the second quarter worth about $134,096,000. Finally, 1832 Asset Management L.P. boosted its stake in shares of Canadian National Railway by 7.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after acquiring an additional 674,536 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.1 %

Shares of CNI opened at $110.97 on Friday. The stock’s 50-day moving average price is $115.93 and its 200 day moving average price is $119.45. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $70.18 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 2.50 and a beta of 0.88. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data 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. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. 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, research analysts predict that Canadian National Railway will post 5.5 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is 39.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stephens restated an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a report on Wednesday. Susquehanna reduced their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $129.00 to $122.00 in a report on Friday, October 4th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Thursday. Finally, Evercore ISI decreased their price target 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. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $125.18.

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.