Canadian National Railway (NYSE:CNI) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lowered its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 8.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,565 shares of the transportation company’s stock after selling 1,396 shares during the quarter. Glenmede Trust Co. NA’s holdings in Canadian National Railway were worth $1,706,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Canadian National Railway during the 2nd quarter valued at $26,000. Addison Advisors LLC increased its stake in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after buying an additional 148 shares during the period. Fortitude Family Office LLC lifted its stake in shares of Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after acquiring an additional 229 shares during the period. Coastline Trust Co bought a new position in shares of Canadian National Railway in the third quarter valued at approximately $34,000. Finally, ORG Partners LLC acquired a new position in shares of Canadian National Railway during the second quarter valued at approximately $34,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

CNI opened at $111.69 on Monday. The stock has a fifty day moving average of $112.39 and a 200-day moving average of $116.57. The firm has a market capitalization of $70.34 billion, a P/E ratio of 17.90, a PEG ratio of 2.52 and a beta of 0.89. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. Canadian National Railway has a 12-month low of $105.28 and a 12-month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 EPS. Equities analysts forecast that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.19%. Canadian National Railway’s payout ratio is 39.90%.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of research analyst reports. Sanford C. Bernstein cut their target price on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Stephens reiterated an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Wells Fargo & Company upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research report on Monday, October 7th. Finally, Evercore ISI dropped their target price on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $125.86.

About Canadian National Railway

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.