OLD National Bancorp IN Decreases Position in Canadian National Railway (NYSE:CNI)

OLD National Bancorp IN trimmed its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 23.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,817 shares of the transportation company’s stock after selling 548 shares during the quarter. OLD National Bancorp IN’s holdings in Canadian National Railway were worth $213,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Canadian National Railway during the second quarter worth $26,000. GAMMA Investing LLC boosted its position in Canadian National Railway by 766.7% during the first quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after purchasing an additional 207 shares in 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 purchasing an additional 148 shares in the last quarter. ORG Partners LLC purchased a new stake in Canadian National Railway during the second quarter worth $34,000. Finally, Daiwa Securities Group Inc. purchased a new stake in Canadian National Railway during the first quarter worth $64,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Citigroup began coverage on Canadian National Railway in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $125.00 price objective on the stock. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $125.10.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $111.99 on Thursday. The firm has a market capitalization of $70.82 billion, a P/E ratio of 17.86, a PEG ratio of 2.53 and a beta of 0.88. The stock has a fifty day moving average price of $116.02 and a 200 day moving average price of $119.72. Canadian National Railway has a 52 week low of $103.96 and a 52 week 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, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 earnings per share. Equities research analysts anticipate 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. Shareholders of record on Monday, December 9th will be paid 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 yield of 2.18%. Canadian National Railway’s dividend payout ratio is presently 39.07%.

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.