Canadian National Railway (NYSE:CNI) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co cut its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 23,639 shares of the transportation company’s stock after selling 348 shares during the period. Fiduciary Trust Co’s holdings in Canadian National Railway were worth $2,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in shares of Canadian National Railway by 29.6% in the 3rd quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock valued at $10,820,000 after purchasing an additional 21,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Canadian National Railway by 5.4% in 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 purchasing an additional 202,303 shares in the last quarter. Partners Group Holding AG raised its position in shares of Canadian National Railway by 16.3% in the 3rd quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock valued at $47,571,000 after purchasing an additional 56,849 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Canadian National Railway in the 2nd quarter valued at approximately $134,096,000. Finally, Sterling Investment Management LLC raised its position in shares of Canadian National Railway by 17.2% in the 3rd quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock valued at $4,250,000 after purchasing an additional 5,329 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $111.26 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. Canadian National Railway has a fifty-two week low of $105.28 and a fifty-two week high of $134.02. The stock’s 50-day moving average is $112.50 and its two-hundred day moving average is $116.80. The firm has a market cap of $70.07 billion, a P/E ratio of 17.83, a PEG ratio of 2.51 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping 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 company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the firm posted $1.26 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. Analysts predict that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 annualized dividend and a yield of 2.20%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is currently 39.26%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price target for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. Stephens reissued an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Barclays upped their price target on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Stifel Nicolaus upped their price objective on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $125.86.

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.