Bridgewater Associates LP Acquires 4,795 Shares of Canadian National Railway (NYSE:CNI)

Bridgewater Associates LP increased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 10.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,720 shares of the transportation company’s stock after acquiring an additional 4,795 shares during the quarter. Bridgewater Associates LP’s holdings in Canadian National Railway were worth $6,063,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Grove Bank & Trust raised its stake in shares of Canadian National Railway by 15.3% during the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after purchasing an additional 97 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Canadian National Railway by 2.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock worth $547,000 after acquiring an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in Canadian National Railway by 1.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after acquiring an additional 102 shares during the last quarter. Blue Trust Inc. grew its position in shares of Canadian National Railway by 19.3% during the 2nd quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock valued at $77,000 after acquiring an additional 105 shares during the period. Finally, Doheny Asset Management CA increased its stake in shares of Canadian National Railway by 3.8% during the 2nd quarter. Doheny Asset Management CA now owns 3,000 shares of the transportation company’s stock worth $354,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.4 %

Shares of CNI stock opened at $111.65 on Friday. The company has a market capitalization of $70.31 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.51 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. The business’s fifty day moving average is $112.39 and its 200 day moving average is $116.70. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released 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. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the firm posted $1.26 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts anticipate that Canadian National Railway will post 5.49 EPS 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 issued a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is 39.26%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Susquehanna dropped their price objective on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI dropped their price target on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 23rd. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $126.00 to $130.00 in a report on Tuesday, November 12th. Wells Fargo & Company raised shares of 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. Finally, Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus price target of $125.86.

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.