Hexavest Inc. Sells 46,052 Shares of Canadian National Railway (NYSE:CNI)

Hexavest Inc. reduced its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 89.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,719 shares of the transportation company’s stock after selling 46,052 shares during the quarter. Hexavest Inc.’s holdings in Canadian National Railway were worth $607,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Keebeck Wealth Management LLC purchased a new position in Canadian National Railway during the 2nd quarter valued at $34,000. Larson Financial Group LLC purchased a new position in Canadian National Railway during the 2nd quarter valued at $42,000. Ameritas Investment Company LLC purchased a new position in Canadian National Railway during the 1st quarter valued at $45,000. Balentine LLC increased its position in Canadian National Railway by 3,915.4% during the 2nd quarter. Balentine LLC now owns 522 shares of the transportation company’s stock valued at $46,000 after purchasing an additional 509 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its position in Canadian National Railway by 158.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 757 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 464 shares during the period. 54.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of Canadian National Railway stock opened at $111.21 on Thursday. The stock has a market cap of $78.87 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 3.80 and a beta of 0.85. The firm’s 50-day moving average is $106.21 and its 200 day moving average is $92.31. Canadian National Railway has a 1 year low of $65.13 and a 1 year high of $112.05. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.97 and a quick ratio of 0.77.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, July 21st. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.36. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Canadian National Railway had a net margin of 25.66% and a return on equity of 20.92%. On average, equities analysts expect that Canadian National Railway will post 4.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th were paid a $0.425 dividend. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $1.70 dividend on an annualized basis and a yield of 1.53%. Canadian National Railway’s payout ratio is presently 39.86%.

A number of research analysts have issued reports on CNI shares. Raymond James boosted their price objective on shares of Canadian National Railway from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Canadian National Railway from $92.00 to $102.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Cowen boosted their price objective on shares of Canadian National Railway from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Citigroup upped their target price on shares of Canadian National Railway from $80.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Finally, Bank of America upped their target price on shares of Canadian National Railway from $104.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $108.39.

About Canadian National Railway

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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