Fort Washington Investment Advisors Inc. OH cut its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 18.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,242 shares of the transportation company’s stock after selling 6,258 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Canadian National Railway were worth $3,007,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Jarislowsky Fraser Ltd lifted its holdings in shares of Canadian National Railway by 1.3% during the third quarter. Jarislowsky Fraser Ltd now owns 11,209,526 shares of the transportation company’s stock worth $1,190,064,000 after purchasing an additional 141,256 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Canadian National Railway by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,586,087 shares of the transportation company’s stock worth $1,359,403,000 after acquiring an additional 108,548 shares in the last quarter. Bank of Nova Scotia lifted its stake in Canadian National Railway by 0.9% during the 2nd quarter. Bank of Nova Scotia now owns 6,486,724 shares of the transportation company’s stock worth $574,527,000 after acquiring an additional 55,612 shares in the last quarter. CIBC Asset Management Inc raised its position in Canadian National Railway by 8.7% in the 3rd quarter. CIBC Asset Management Inc now owns 5,609,581 shares of the transportation company’s stock valued at $596,936,000 after purchasing an additional 447,378 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Canadian National Railway by 3.8% in the 2nd quarter. FMR LLC now owns 4,242,664 shares of the transportation company’s stock valued at $375,358,000 after acquiring an additional 154,000 shares during the last quarter. Institutional investors own 46.70% of the company’s stock.
Shares of NYSE:CNI opened at $108.72 on Friday. The company has a market cap of $77.36 billion, a P/E ratio of 30.37, a P/E/G ratio of 3.94 and a beta of 0.87. The stock’s 50-day moving average is $106.93 and its 200-day moving average is $97.48. Canadian National Railway has a 52-week low of $65.13 and a 52-week high of $112.97. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.85 and a current ratio of 1.05.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 20th. The transportation company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.29. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Canadian National Railway had a net margin of 24.90% and a return on equity of 19.55%. The firm’s revenue was down 11.0% on a year-over-year basis. During the same quarter last year, the company earned $1.66 earnings per share. As a group, equities analysts predict that Canadian National Railway will post 4.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 9th will be issued a $0.432 dividend. The ex-dividend date is Tuesday, December 8th. This represents a $1.73 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.43. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.86%.
CNI has been the topic of a number of research reports. Cowen raised their price target on Canadian National Railway from $111.00 to $116.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Bank of America raised their price target on Canadian National Railway from $104.00 to $117.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. CIBC lifted their price objective on Canadian National Railway from $130.00 to $141.00 in a report on Thursday, October 8th. BMO Capital Markets lifted their price objective on Canadian National Railway from $140.00 to $152.00 and gave the stock an “outperform” rating in a report on Tuesday, September 22nd. Finally, Royal Bank of Canada dropped their price target on Canadian National Railway from $145.00 to $144.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 21st. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $113.44.
Canadian National Railway Profile
Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods comprises petroleum and chemicals, fertilizers, coal, metals and minerals, forest products, grain, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.
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