Bridgewater Associates LP Raises Stock Position in Canadian National Railway (NYSE:CNI)

Bridgewater Associates LP raised its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,720 shares of the transportation company's stock after purchasing an additional 4,795 shares during the quarter. Bridgewater Associates LP's holdings in Canadian National Railway were worth $6,063,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Canadian National Railway in the 2nd quarter worth $26,000. Addison Advisors LLC grew its position in shares of Canadian National Railway by 159.1% during the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company's stock worth $28,000 after purchasing an additional 148 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company's stock worth $30,000 after purchasing an additional 229 shares in the last quarter. Coastline Trust Co bought a new position in Canadian National Railway in the 3rd quarter worth approximately $34,000. Finally, ORG Partners LLC purchased a new stake in Canadian National Railway during the 2nd quarter valued at approximately $34,000. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CNI. 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 report on Wednesday, October 23rd. Susquehanna dropped their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Sanford C. Bernstein reduced their target price on Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating on the stock in a report on Wednesday, October 9th. Evercore ISI dropped their price target on Canadian National Railway from $119.00 to $116.00 and set an "in-line" rating for the company in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group reduced their price objective on Canadian National Railway from $131.00 to $124.00 and set a "sell" rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and two have assigned 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 price target of $125.86.

Canadian National Railway Trading Up 0.4 %

Shares of Canadian National Railway stock traded up $0.43 during trading on Friday, hitting $111.69. The stock had a trading volume of 551,866 shares, compared to its average volume of 1,226,322. Canadian National Railway has a 12 month low of $105.28 and a 12 month high of $134.02. 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's fifty day simple moving average is $112.39 and its 200-day simple moving average is $116.63. The stock has a market cap of $70.34 billion, a PE ratio of 17.90, a PEG ratio of 2.51 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway's dividend payout ratio (DPR) is presently 39.26%.

Canadian National Railway 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.