DORCHESTER WEALTH MANAGEMENT Co Sells 1,897 Shares of Canadian National Railway (NYSE:CNI)

by · The Markets Daily

DORCHESTER WEALTH MANAGEMENT Co reduced its position in shares of Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,115 shares of the transportation company’s stock after selling 1,897 shares during the period. Canadian National Railway comprises 1.9% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 18th largest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Canadian National Railway were worth $10,691,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in shares of Canadian National Railway during the second quarter worth about $134,096,000. Koshinski Asset Management Inc. acquired a new position in shares of Canadian National Railway in the first quarter worth approximately $627,000. Mediolanum International Funds Ltd acquired a new position in shares of Canadian National Railway in the first quarter worth approximately $4,451,000. Sumitomo Life Insurance Co. acquired a new position in shares of Canadian National Railway in the second quarter worth approximately $1,321,000. Finally, Sterling Investment Management LLC lifted its stake in shares of Canadian National Railway by 17.2% in the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock worth $4,250,000 after acquiring an additional 5,329 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Trading Down 1.0 %

Canadian National Railway stock traded down $1.16 during trading hours on Thursday, reaching $110.83. The company had a trading volume of 398,684 shares, compared to its average volume of 1,107,785. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The company has a 50-day moving average price of $116.02 and a 200 day moving average price of $119.72. The firm has a market cap of $69.80 billion, a price-to-earnings ratio of 17.82, 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 – Get Free Report) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.49% and a net margin of 31.65%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Equities analysts forecast that Canadian National Railway will post 5.5 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company 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 annualized dividend and a dividend yield of 2.20%. Canadian National Railway’s dividend payout ratio is presently 39.26%.

Analyst Ratings Changes

Several equities analysts have issued reports on CNI shares. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, July 24th. The Goldman Sachs Group dropped their price target on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Stephens reissued an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a research note on Wednesday. Stifel Nicolaus boosted their price target on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Susquehanna lowered their target price on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus target price of $125.18.

Check Out Our Latest Analysis on Canadian National Railway

About Canadian National Railway

(Free Report)

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.

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