Northeast Investment Management Decreases Stake in Canadian National Railway (NYSE:CNI)

Northeast Investment Management reduced its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,701 shares of the transportation company’s stock after selling 97 shares during the period. Northeast Investment Management’s holdings in Canadian National Railway were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its stake in Canadian National Railway by 92.4% during the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after acquiring an additional 2,163,820 shares during the last quarter. Capital International Investors increased its stake in Canadian National Railway by 18.1% during the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after acquiring an additional 1,379,976 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Canadian National Railway by 4,614.6% during 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 acquiring an additional 1,307,689 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Canadian National Railway during the second quarter worth approximately $134,096,000. Finally, 1832 Asset Management L.P. increased its stake in Canadian National Railway by 7.8% during the second 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. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Canadian National Railway Stock Up 0.3 %

Shares of NYSE CNI opened at $108.21 on Monday. The stock has a 50 day moving average price of $115.40 and a 200 day moving average price of $118.70. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The firm has a market capitalization of $68.04 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.42 and a beta of 0.89. Canadian National Railway has a 52-week low of $107.56 and a 52-week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion during 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%. Canadian National Railway’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. Sell-side analysts expect that Canadian National Railway will post 5.54 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. Shareholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.26%. Canadian National Railway’s dividend payout ratio is currently 39.90%.

Analysts Set New Price Targets

Several brokerages have weighed in on CNI. Barclays boosted their price objective 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 cut their target price on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $125.18.

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.