Sei Investments Co. Cuts Stock Position in Canadian National Railway (NYSE:CNI)

Sei Investments Co. decreased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 360,591 shares of the transportation company’s stock after selling 4,836 shares during the period. Sei Investments Co.’s holdings in Canadian National Railway were worth $42,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in shares of Canadian National Railway by 61.1% in the 4th quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock worth $20,375,000 after purchasing an additional 61,498 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in shares of Canadian National Railway by 1.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,602,728 shares of the transportation company’s stock worth $201,351,000 after acquiring an additional 17,083 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Canadian National Railway during the second quarter valued at about $134,096,000. Koshinski Asset Management Inc. acquired a new stake in Canadian National Railway in the 1st quarter worth approximately $627,000. Finally, Virtu Financial LLC purchased a new stake in Canadian National Railway during the 4th quarter worth approximately $816,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

NYSE:CNI opened at $117.11 on Tuesday. The company has a 50 day moving average price of $116.14 and a 200-day moving average price of $122.03. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The firm has a market cap of $74.06 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 2.56 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share 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 firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. During the same quarter last year, the company posted $1.31 EPS. The company’s revenue was up 6.7% on a year-over-year basis. Equities research analysts forecast that Canadian National Railway will post 5.58 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm 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 $0.614 dividend. This represents a $2.46 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s payout ratio is currently 39.07%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNI. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Barclays lowered their price target on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 24th. Stephens cut their price objective on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Finally, Susquehanna cut their price target on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Fifteen equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $136.33.

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.