Partners Group Holding AG Boosts Stake in Canadian National Railway (NYSE:CNI)

Partners Group Holding AG grew its holdings in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 16.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 406,066 shares of the transportation company's stock after purchasing an additional 56,849 shares during the quarter. Canadian National Railway makes up about 3.2% of Partners Group Holding AG's portfolio, making the stock its 11th biggest holding. Partners Group Holding AG owned approximately 0.06% of Canadian National Railway worth $47,571,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. 1832 Asset Management L.P. boosted its position in shares of Canadian National Railway by 7.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company's stock valued at $1,106,361,000 after acquiring an additional 674,536 shares during the last quarter. JARISLOWSKY FRASER Ltd increased its holdings in shares of Canadian National Railway by 1.2% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company's stock worth $1,017,315,000 after buying an additional 99,716 shares during the last quarter. Fiera Capital Corp raised its position in shares of Canadian National Railway by 0.7% during the 3rd quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company's stock valued at $642,828,000 after buying an additional 39,063 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Canadian National Railway by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company's stock valued at $570,667,000 after buying an additional 120,453 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Canadian National Railway by 5.4% in 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 acquiring an additional 202,303 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CNI. Barclays boosted their target price on Canadian National Railway from $120.00 to $121.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Benchmark restated a "hold" rating on shares of Canadian National Railway in a report on Thursday, October 24th. Stephens restated an "equal weight" rating and issued a $116.00 price objective on shares of Canadian National Railway in a report on Wednesday, October 23rd. Sanford C. Bernstein reduced their target price on shares of 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. Finally, The Goldman Sachs Group dropped their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a "sell" rating for the company in a research note on Wednesday, October 9th. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, Canadian National Railway presently has an average rating of "Hold" and a consensus price target of $125.48.

Canadian National Railway Stock Performance

CNI stock traded down $2.12 on Tuesday, hitting $109.66. The company's stock had a trading volume of 1,221,906 shares, compared to its average volume of 1,125,260. Canadian National Railway has a 1 year low of $105.28 and a 1 year high of $134.02. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The stock has a market cap of $69.06 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89. The firm has a 50 day moving average of $112.96 and a two-hundred day moving average of $117.00.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the company posted $1.26 earnings per share. The business's revenue was up 3.1% on a year-over-year basis. Equities analysts predict that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.23%. Canadian National Railway's dividend payout ratio (DPR) is 39.26%.

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.