Barclays PLC Sells 23,124 Shares of Canadian National Railway (NYSE:CNI)

Barclays PLC trimmed its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 26.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,438 shares of the transportation company's stock after selling 23,124 shares during the period. Barclays PLC's holdings in Canadian National Railway were worth $7,667,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CNI. XTX Topco Ltd increased its stake in Canadian National Railway by 43.3% in the 3rd quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company's stock valued at $1,822,000 after buying an additional 4,698 shares during the last quarter. Principal Financial Group Inc. grew its holdings 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 acquiring an additional 21,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Canadian National Railway by 5.4% during the third 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 during the last quarter. Partners Group Holding AG grew its stake in Canadian National Railway by 16.3% in the third 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. Finally, Two Sigma Advisers LP increased its position in shares of Canadian National Railway by 123.7% during the 3rd quarter. Two Sigma Advisers LP now owns 172,172 shares of the transportation company's stock worth $20,170,000 after purchasing an additional 95,200 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CNI shares. Veritas raised shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 23rd. Citigroup raised shares of Canadian National Railway from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. Royal Bank of Canada upgraded shares of Canadian National Railway from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a report on Thursday, October 24th. Finally, Bank of America cut Canadian National Railway from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $129.00 to $122.00 in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $125.86.

Canadian National Railway Price Performance

Shares of CNI traded down $0.78 during midday trading on Thursday, hitting $100.62. The company's stock had a trading volume of 1,543,464 shares, compared to its average volume of 1,147,107. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. Canadian National Railway has a one year low of $100.32 and a one year high of $134.02. The stock has a market capitalization of $63.30 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.43 and a beta of 0.89. The company's fifty day simple moving average is $109.65 and its two-hundred day simple moving average is $114.71.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion for 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 business's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 earnings per share. As a group, equities analysts expect that Canadian National Railway will post 5.31 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business 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 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Monday, December 9th. Canadian National Railway's dividend payout ratio (DPR) is presently 38.14%.

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.