Canadian National Railway (NYSE:CNI) Stake Raised by King Luther Capital Management Corp

King Luther Capital Management Corp raised its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,932 shares of the transportation company’s stock after acquiring an additional 200 shares during the quarter. King Luther Capital Management Corp’s holdings in Canadian National Railway were worth $1,046,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CNI. Principal Financial Group Inc. boosted its holdings in shares of Canadian National Railway by 29.6% during the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock worth $10,820,000 after purchasing an additional 21,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Canadian National Railway by 5.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after buying an additional 202,303 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Canadian National Railway during the 2nd quarter valued at $134,096,000. Sterling Investment Management LLC increased its stake in shares of Canadian National Railway by 17.2% in the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock worth $4,250,000 after acquiring an additional 5,329 shares during the last quarter. Finally, Summit Global Investments purchased a new stake in shares of Canadian National Railway during the third quarter worth $636,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Trading Up 1.9 %

Shares of NYSE:CNI opened at $111.24 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The stock’s 50-day moving average is $113.14 and its 200-day moving average is $117.17. The company has a market cap of $70.06 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.47 and a beta of 0.89. Canadian National Railway has a 52-week low of $105.28 and a 52-week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 EPS. Equities research analysts predict that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CNI. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective on the stock in a report on Monday, October 7th. The Goldman Sachs Group reduced their target price on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Finally, Barclays increased their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Canadian National Railway currently has a consensus rating of “Hold” and an average price target of $125.48.

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.