Sterling Investment Management LLC Sells 287 Shares of Canadian National Railway (NYSE:CNI)

Sterling Investment Management LLC decreased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,899 shares of the transportation company’s stock after selling 287 shares during the period. Canadian National Railway accounts for about 1.7% of Sterling Investment Management LLC’s holdings, making the stock its 17th largest holding. Sterling Investment Management LLC’s holdings in Canadian National Railway were worth $2,167,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Canadian National Railway during the fourth quarter valued at about $727,713,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Canadian National Railway by 25,348.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,650,355 shares of the transportation company’s stock valued at $194,698,000 after purchasing an additional 1,643,870 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Canadian National Railway during the first quarter valued at approximately $137,546,000. Goldman Sachs Group Inc. boosted its position in shares of Canadian National Railway by 166.7% during the second quarter. Goldman Sachs Group Inc. now owns 1,772,695 shares of the transportation company’s stock valued at $199,375,000 after purchasing an additional 1,108,104 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in Canadian National Railway by 5.3% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 12,333,700 shares of the transportation company’s stock valued at $1,655,948,000 after buying an additional 625,000 shares during the period. Hedge funds and other institutional investors own 67.60% of the company’s stock.

Canadian National Railway Stock Performance

NYSE CNI traded down $1.81 during trading hours on Tuesday, hitting $113.91. 159,656 shares of the company’s stock traded hands, compared to its average volume of 1,120,117. The company has a current ratio of 0.93, a quick ratio of 0.72 and a debt-to-equity ratio of 0.78. Canadian National Railway has a 52 week low of $103.79 and a 52 week high of $129.89. The firm has a market capitalization of $74.45 billion, a P/E ratio of 19.82, a P/E/G ratio of 3.16 and a beta of 0.91. The business’s fifty day moving average price is $115.14 and its two-hundred day moving average price is $116.96.

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

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a $0.5996 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.40 dividend on an annualized basis and a yield of 2.11%. Canadian National Railway’s dividend payout ratio is presently 39.73%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNI. BMO Capital Markets reduced their target price on shares of Canadian National Railway from C$177.00 to C$175.00 in a research report on Wednesday, July 26th. CIBC dropped their price target on Canadian National Railway from C$177.00 to C$175.00 in a research report on Wednesday, July 26th. Barclays reduced their price objective on Canadian National Railway from $122.00 to $119.00 in a research report on Wednesday, July 26th. Citigroup dropped their target price on Canadian National Railway from $125.00 to $122.00 in a report on Tuesday, July 11th. Finally, National Bank Financial reduced their price target on Canadian National Railway from C$173.00 to C$171.00 in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $145.71.

Canadian National Railway Profile

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.