341,406 Shares in Canadian National Railway (NYSE:CNI) Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 341,406 shares of the transportation company's stock, valued at approximately $40,017,000. Public Employees Retirement System of Ohio owned approximately 0.05% of Canadian National Railway as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNI. XTX Topco Ltd boosted its position in shares of Canadian National Railway by 43.3% during the 3rd quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company's stock valued at $1,822,000 after acquiring an additional 4,698 shares during the last quarter. Principal Financial Group Inc. grew its stake in 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 worth $10,820,000 after buying an additional 21,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 worth $464,002,000 after buying an additional 202,303 shares during the last quarter. Partners Group Holding AG raised its position in shares of Canadian National Railway by 16.3% during the 3rd quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company's stock valued at $47,571,000 after buying an additional 56,849 shares in the last quarter. Finally, Sterling Investment Management LLC lifted its holdings in shares of Canadian National Railway by 17.2% during the 3rd quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company's stock worth $4,250,000 after acquiring an additional 5,329 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Down 0.1 %

CNI traded down $0.06 on Tuesday, hitting $106.32. The company had a trading volume of 1,167,846 shares, compared to its average volume of 1,143,849. Canadian National Railway has a 52-week low of $105.28 and a 52-week high of $134.02. The stock has a fifty day simple moving average of $111.42 and a 200-day simple moving average of $115.79. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The firm has a market capitalization of $66.96 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.50 and a beta of 0.89.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS 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 analyst estimates 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 revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share. As a group, equities analysts expect that Canadian National Railway will post 5.31 EPS for the current fiscal 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 dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Monday, December 9th. Canadian National Railway's dividend payout ratio is 39.26%.

Analyst Ratings Changes

A number of equities research analysts have weighed in 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 target on the stock in a research report on Monday, October 7th. Stephens reaffirmed an "equal weight" rating and issued a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Sanford C. Bernstein decreased their price target on shares of 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. Royal Bank of Canada raised shares of Canadian National Railway from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Finally, Stifel Nicolaus lifted 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 report on Wednesday, October 23rd. One 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $125.86.

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.