3,065 Shares in Canadian National Railway (NYSE:CNI) Acquired by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. purchased a new stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,065 shares of the transportation company’s stock, valued at approximately $359,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new position in shares of Canadian National Railway in the 2nd quarter valued at $134,096,000. Koshinski Asset Management Inc. acquired a new position in shares of Canadian National Railway in the first quarter valued at about $627,000. Sterling Investment Management LLC raised 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 purchasing an additional 5,329 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in Canadian National Railway in the first quarter valued at approximately $4,451,000. Finally, Sumitomo Life Insurance Co. purchased a new position in Canadian National Railway during the 2nd quarter worth approximately $1,321,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

CNI has been the topic of several recent research reports. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $129.00 to $122.00 in a report on Friday, October 4th. Stifel Nicolaus increased their price target on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Barclays upped their target price 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. Finally, The Goldman Sachs Group reduced their price target on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $125.18.

Canadian National Railway Stock Performance

CNI opened at $108.21 on Friday. The firm’s fifty day simple moving average is $115.40 and its two-hundred day simple moving average is $118.76. Canadian National Railway has a 52-week low of $107.56 and a 52-week high of $134.02. The company has a market cap of $68.04 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.42 and a beta of 0.89. 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 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 net margin of 31.65% and a return on equity of 23.62%. Canadian National Railway’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $1.26 EPS. Equities analysts anticipate that Canadian National Railway will post 5.54 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.26%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.90%.

About Canadian National Railway

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.