Geode Capital Management LLC Boosts Holdings in Canadian National Railway (NYSE:CNI)

Geode Capital Management LLC boosted its holdings in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 6.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,562,480 shares of the transportation company's stock after acquiring an additional 158,757 shares during the quarter. Geode Capital Management LLC owned 0.41% of Canadian National Railway worth $302,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Addison Advisors LLC grew its position in Canadian National Railway by 159.1% in the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company's stock worth $28,000 after acquiring an additional 148 shares in the last quarter. Fortitude Family Office LLC lifted its stake in Canadian National Railway by 738.7% during the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company's stock worth $30,000 after purchasing an additional 229 shares during the last quarter. Coastline Trust Co purchased a new position in shares of Canadian National Railway in the 3rd quarter worth about $34,000. ORG Partners LLC bought a new position in shares of Canadian National Railway during the 2nd quarter valued at about $34,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Canadian National Railway during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Trading Down 0.8 %

Shares of CNI traded down $0.84 during mid-day trading on Friday, hitting $103.83. 981,292 shares of the company's stock traded hands, compared to its average volume of 1,425,125. 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 market capitalization of $65.32 billion, a P/E ratio of 16.64, a PEG ratio of 2.43 and a beta of 0.89. The business's 50-day moving average price is $110.61 and its 200-day moving average price is $115.22. Canadian National Railway has a 1 year low of $103.82 and a 1 year high of $134.02.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings data 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. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the firm earned $1.26 EPS. The company's quarterly revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Canadian National Railway will post 5.31 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway's dividend payout ratio is currently 38.30%.

Analyst Ratings Changes

CNI has been the subject of several research reports. Barclays upped their target price on Canadian National Railway from $120.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. Stephens reaffirmed an "equal weight" rating and issued a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Veritas raised shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 23rd. Sanford C. Bernstein lowered their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating for the company in a research note on Wednesday, October 9th. Finally, Benchmark restated a "hold" rating on shares of Canadian National Railway in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway presently has a consensus rating of "Hold" and a consensus price target of $125.86.

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.