Birch Capital Management LLC Sells 4,694 Shares of Canadian National Railway (NYSE:CNI)

Birch Capital Management LLC lessened its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 33.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,215 shares of the transportation company’s stock after selling 4,694 shares during the period. Birch Capital Management LLC’s holdings in Canadian National Railway were worth $1,116,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Ahrens Investment Partners LLC acquired a new stake in shares of Canadian National Railway in the 1st quarter valued at about $26,000. CoreCap Advisors LLC bought a new position in Canadian National Railway during the fourth quarter valued at about $29,000. ICA Group Wealth Management LLC bought a new stake in Canadian National Railway in the fourth quarter worth about $53,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Canadian National Railway in the first quarter valued at about $54,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Canadian National Railway by 24.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 466 shares of the transportation company’s stock valued at $55,000 after acquiring an additional 91 shares during the period. 67.60% of the stock is currently owned by institutional investors.

Canadian National Railway Price Performance

CNI stock opened at $115.72 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $115.14 and its two-hundred day moving average price is $116.96. The stock has a market capitalization of $75.63 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 3.16 and a beta of 0.91. Canadian National Railway has a 12-month low of $103.79 and a 12-month high of $129.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, July 25th. The transportation company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.06). The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.13 billion. Canadian National Railway had a net margin of 30.21% and a return on equity of 24.62%. As a group, equities analysts predict that Canadian National Railway will post 5.55 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a dividend of $0.5996 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Thursday, September 7th. Canadian National Railway’s payout ratio is presently 39.73%.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of recent research reports. Raymond James raised Canadian National Railway from a “market perform” rating to an “outperform” rating in a research report on Thursday, September 14th. National Bank Financial dropped their price objective on shares of Canadian National Railway from C$173.00 to C$171.00 in a report on Tuesday, July 25th. Stifel Nicolaus lifted their target price on shares of Canadian National Railway from $115.00 to $127.00 in a research note on Monday, July 17th. Stephens dropped their price target on shares of Canadian National Railway from $124.00 to $122.00 in a research note on Wednesday, July 26th. Finally, Royal Bank of Canada downgraded shares of Canadian National Railway from an “outperform” rating to a “sector perform” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $145.71.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.