Premier Fund Managers Ltd Sells 2,500 Shares of Canadian National Railway (NYSE:CNI)

Premier Fund Managers Ltd decreased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 17.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,500 shares of the transportation company’s stock after selling 2,500 shares during the quarter. Premier Fund Managers Ltd’s holdings in Canadian National Railway were worth $1,339,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board grew its holdings in shares of Canadian National Railway by 92.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock valued at $593,911,000 after buying an additional 2,163,820 shares during the period. Capital International Investors grew its stake in Canadian National Railway by 18.1% in 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 acquiring an additional 1,379,976 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Canadian National Railway by 4,614.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock valued at $157,896,000 after acquiring an additional 1,307,689 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Canadian National Railway in the second quarter worth about $134,096,000. Finally, 1832 Asset Management L.P. raised its position in shares of 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 purchasing an additional 674,536 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Price Performance

NYSE:CNI opened at $106.81 on Wednesday. The stock has a market capitalization of $67.27 billion, a PE ratio of 17.12, a P/E/G ratio of 2.45 and a beta of 0.89. Canadian National Railway has a 1-year low of $106.40 and a 1-year high of $134.02. The firm has a fifty day simple moving average of $113.69 and a 200 day simple moving average of $117.47. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 earnings per share. On average, research analysts expect that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is currently 39.26%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CNI. 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. Stephens reissued an “equal weight” rating and set a $116.00 price objective on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Benchmark restated a “hold” rating on shares of Canadian National Railway in a report on Thursday, October 24th. Stifel Nicolaus upped their target price 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, Barclays lifted their price target on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average target price of $125.48.

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.