Cerity Partners LLC Buys 24,753 Shares of Canadian National Railway (NYSE:CNI)

Cerity Partners LLC increased its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 25.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 123,445 shares of the transportation company’s stock after purchasing an additional 24,753 shares during the quarter. Cerity Partners LLC’s holdings in Canadian National Railway were worth $14,462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Canadian National Railway by 4,614.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after purchasing an additional 1,307,689 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Canadian National Railway during the 2nd quarter valued at $134,096,000. 1832 Asset Management L.P. grew its holdings in Canadian National Railway by 7.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after acquiring an additional 674,536 shares during the last quarter. Fiera Capital Corp increased its position in shares of Canadian National Railway by 13.3% in the second quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock valued at $643,503,000 after acquiring an additional 638,817 shares during the period. Finally, Ninety One UK Ltd raised its stake in shares of Canadian National Railway by 125.9% during the second quarter. Ninety One UK Ltd now owns 1,096,901 shares of the transportation company’s stock valued at $129,590,000 after acquiring an additional 611,252 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CNI has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the company from $126.00 to $130.00 in a report on Tuesday, November 12th. Barclays raised their price target on 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. Sanford C. Bernstein reduced their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $125.48.

Canadian National Railway Stock Up 0.4 %

CNI stock opened at $111.74 on Tuesday. The business has a 50 day moving average of $112.96 and a 200 day moving average of $117.00. The firm has a market cap of $70.37 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89. Canadian National Railway has a twelve month low of $105.28 and a twelve month high of $134.02. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $1.26 earnings per share. On average, research analysts forecast that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.26%.

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.