Great Lakes Advisors LLC Has $21.38 Million Stock Position in Canadian National Railway (NYSE:CNI)

Great Lakes Advisors LLC reduced its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 15.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,964 shares of the transportation company’s stock after selling 32,464 shares during the period. Great Lakes Advisors LLC’s holdings in Canadian National Railway were worth $21,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. M&T Bank Corp raised its position in Canadian National Railway by 5.6% during the fourth quarter. M&T Bank Corp now owns 7,235 shares of the transportation company’s stock valued at $909,000 after acquiring an additional 386 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in shares of Canadian National Railway during the 4th quarter valued at $206,000. Spire Wealth Management lifted its stake in shares of Canadian National Railway by 7.2% in the 4th quarter. Spire Wealth Management now owns 4,932 shares of the transportation company’s stock valued at $622,000 after purchasing an additional 330 shares during the last quarter. Lincoln National Corp boosted its holdings in Canadian National Railway by 66.3% in the fourth quarter. Lincoln National Corp now owns 3,783 shares of the transportation company’s stock worth $475,000 after purchasing an additional 1,508 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in Canadian National Railway by 52.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 8,332 shares of the transportation company’s stock worth $1,047,000 after buying an additional 2,877 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CNI. National Bank Financial raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, June 27th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Stifel Nicolaus decreased their price target on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Susquehanna dropped their price objective on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Barclays lowered their target price on Canadian National Railway from $128.00 to $120.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th. Sixteen research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $138.35.

Canadian National Railway Price Performance

CNI stock traded down $1.34 during trading on Friday, hitting $115.37. 1,926,553 shares of the stock traded hands, compared to its average volume of 1,076,060. The stock has a market cap of $72.96 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 2.41 and a beta of 0.88. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93. The company has a 50 day simple moving average of $116.24 and a 200 day simple moving average of $123.05.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.40 billion. During the same quarter last year, the company earned $1.31 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Equities analysts expect that Canadian National Railway will post 5.64 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.614 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s dividend payout ratio is currently 39.07%.

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.