Canadian National Railway (CNI) Position Lowered by Monarch Capital Management Inc.
Monarch Capital Management Inc. lessened its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 16.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,740 shares of the transportation company’s stock after selling 900 shares during the quarter. Monarch Capital Management Inc.’s holdings in Canadian National Railway were worth $426,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Zions Bancorporation purchased a new stake in Canadian National Railway during the 3rd quarter worth approximately $102,000. Palo Capital Inc. purchased a new stake in Canadian National Railway during the 3rd quarter worth approximately $114,000. Girard Partners LTD. purchased a new stake in Canadian National Railway during the 3rd quarter worth approximately $131,000. First Hawaiian Bank purchased a new stake in Canadian National Railway during the 3rd quarter worth approximately $175,000. Finally, Quad Cities Investment Group LLC purchased a new stake in Canadian National Railway during the 2nd quarter worth approximately $165,000. Hedge funds and other institutional investors own 54.24% of the company’s stock.
Shares of CNI stock traded down $1.16 during trading hours on Thursday, hitting $80.90. The company’s stock had a trading volume of 241,062 shares, compared to its average volume of 991,985. The company has a market capitalization of $59.87 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.72 and a quick ratio of 0.58. Canadian National Railway has a 12-month low of $70.59 and a 12-month high of $91.90.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be paid a $0.3477 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.34. This represents a $1.39 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Thursday, December 6th. Canadian National Railway’s payout ratio is currently 35.94%.
Several analysts have weighed in on CNI shares. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating in a research report on Thursday, October 18th. Zacks Investment Research downgraded shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Tuesday, September 25th. Credit Suisse Group boosted their target price on shares of Canadian National Railway from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 24th. Finally, BMO Capital Markets downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $92.07.
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Canadian National Railway Company Profile
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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