Canadian National Railway (NYSE:CNI) Stake Raised by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 3,962,972 shares of the transportation company’s stock after acquiring an additional 202,303 shares during the period. Canadian National Railway comprises 2.2% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 6th biggest position. Connor Clark & Lunn Investment Management Ltd. owned about 0.63% of Canadian National Railway worth $464,002,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CNI. Canada Pension Plan Investment Board lifted its stake in shares of Canadian National Railway by 92.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock worth $593,911,000 after purchasing an additional 2,163,820 shares during the last quarter. Capital International Investors lifted its position 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 valued at $1,185,647,000 after purchasing an additional 1,379,976 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Canadian National Railway by 4,614.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock valued at $157,896,000 after buying an additional 1,307,689 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Canadian National Railway in the 2nd quarter worth approximately $134,096,000. Finally, 1832 Asset Management L.P. boosted its stake in shares of Canadian National Railway by 7.8% during the 2nd 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 in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Down 1.6 %

Canadian National Railway stock opened at $106.81 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average price of $113.69 and a two-hundred day moving average price of $117.47. The firm has a market capitalization of $67.27 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 2.45 and a beta of 0.89. Canadian National Railway has a 52-week low of $106.40 and a 52-week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its 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. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $1.26 earnings per share. Sell-side analysts expect that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upgraded 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. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $129.00 to $122.00 in a research report on Friday, October 4th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Stifel Nicolaus boosted their price target on shares of 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, Susquehanna reduced 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. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and two have given 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 an average target price of $125.48.

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.