Sumitomo Life Insurance Co. Trims Stock Position in Canadian National Railway Company $CNI

Sumitomo Life Insurance Co. decreased its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,434 shares of the transportation company’s stock after selling 606 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Canadian National Railway were worth $1,086,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bennett Selby Investments LP raised its position in Canadian National Railway by 2.2% in the second quarter. Bennett Selby Investments LP now owns 4,796 shares of the transportation company’s stock valued at $499,000 after purchasing an additional 101 shares during the period. Heartland Advisors Inc. raised its position in Canadian National Railway by 0.9% in the first quarter. Heartland Advisors Inc. now owns 12,293 shares of the transportation company’s stock valued at $1,198,000 after purchasing an additional 108 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of Canadian National Railway by 13.4% during the second quarter. Creative Financial Designs Inc. ADV now owns 929 shares of the transportation company’s stock worth $97,000 after acquiring an additional 110 shares during the period. IFP Advisors Inc increased its position in shares of Canadian National Railway by 3.3% during the second quarter. IFP Advisors Inc now owns 3,582 shares of the transportation company’s stock worth $373,000 after acquiring an additional 115 shares during the period. Finally, D.A. Davidson & CO. increased its position in shares of Canadian National Railway by 5.3% during the second quarter. D.A. Davidson & CO. now owns 2,374 shares of the transportation company’s stock worth $247,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $95.98 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The firm has a fifty day moving average price of $95.02 and a 200 day moving average price of $98.72. The company has a market cap of $59.38 billion, a P/E ratio of 18.46, a PEG ratio of 2.13 and a beta of 0.96. Canadian National Railway Company has a 12 month low of $91.07 and a 12 month high of $114.13.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Friday, October 31st. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $4.15 billion. Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Sell-side analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th will be paid a $0.8875 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, December 9th. Canadian National Railway’s payout ratio is currently 50.19%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Raymond James Financial raised Canadian National Railway from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. Bank of America cut their price objective on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. Zacks Research lowered Canadian National Railway from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Finally, Wall Street Zen raised Canadian National Railway from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $113.90.

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.