Findlay Park Partners LLP Sells 339,700 Shares of Canadian National Railway Company $CNI

Findlay Park Partners LLP reduced its holdings in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 18.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,490,368 shares of the transportation company’s stock after selling 339,700 shares during the quarter. Canadian National Railway accounts for about 1.6% of Findlay Park Partners LLP’s investment portfolio, making the stock its 28th largest holding. Findlay Park Partners LLP’s holdings in Canadian National Railway were worth $155,058,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Carlson Capital L.P. bought a new stake in Canadian National Railway in the 2nd quarter valued at $510,000. Employees Retirement System of Texas acquired a new position in shares of Canadian National Railway during the second quarter worth about $474,000. Northwest & Ethical Investments L.P. boosted its position in shares of Canadian National Railway by 10.7% during the second quarter. Northwest & Ethical Investments L.P. now owns 377,662 shares of the transportation company’s stock worth $39,330,000 after buying an additional 36,441 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Canadian National Railway by 3.8% during the second quarter. Russell Investments Group Ltd. now owns 618,757 shares of the transportation company’s stock worth $64,354,000 after buying an additional 22,680 shares in the last quarter. Finally, Verity & Verity LLC acquired a new stake in Canadian National Railway in the 2nd quarter valued at approximately $9,757,000. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CNI. Bank of America reduced their price target on Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Canadian National Railway in a research note on Wednesday, October 8th. Susquehanna increased their price objective on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Royal Bank Of Canada lifted their target price on Canadian National Railway from $148.00 to $158.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $114.00.

Canadian National Railway Price Performance

NYSE:CNI opened at $94.06 on Thursday. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $112.06. The firm has a market capitalization of $57.99 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 2.13 and a beta of 0.95. The stock’s 50 day moving average price is $94.70 and its two-hundred day moving average price is $98.25. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.90.

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

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th will be paid a dividend of $0.8875 per share. The ex-dividend date is Tuesday, December 9th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s dividend payout ratio is 48.01%.

Canadian National Railway Company 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.