Canadian National Railway (NYSE:CNI) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its holdings in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,547,707 shares of the transportation company's stock after selling 271,738 shares during the period. Canadian National Railway accounts for approximately 1.7% of CIBC Asset Management Inc's investment portfolio, making the stock its 14th biggest position. CIBC Asset Management Inc owned about 0.72% of Canadian National Railway worth $533,495,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CNI. Canada Pension Plan Investment Board grew its holdings in Canadian National Railway by 92.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company's stock valued at $593,911,000 after buying an additional 2,163,820 shares in the last quarter. Capital International Investors boosted its holdings in Canadian National Railway by 18.1% in the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company's stock valued at $1,185,647,000 after purchasing an additional 1,379,976 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Canadian National Railway by 4,614.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company's stock valued at $157,896,000 after buying an additional 1,307,689 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Canadian National Railway during the 2nd quarter worth approximately $134,096,000. Finally, 1832 Asset Management L.P. lifted its holdings in Canadian National Railway by 7.8% in the second 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. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein lowered their price target on Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company raised Canadian National Railway from an "equal weight" rating to an "overweight" rating and set a $125.00 target price on the stock in a research report on Monday, October 7th. Susquehanna decreased their target price on Canadian National Railway from $130.00 to $125.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Bank of America lowered shares of Canadian National Railway from a "buy" rating to a "neutral" rating and cut their price target for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. Finally, Royal Bank of Canada upgraded shares of Canadian National Railway from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $125.48.

Canadian National Railway Trading Down 0.9 %

Shares of CNI stock traded down $0.97 during mid-day trading on Friday, reaching $109.08. The company's stock had a trading volume of 975,592 shares, compared to its average volume of 1,114,981. 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 $68.59 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. The company's 50 day simple moving average is $114.17 and its 200-day simple moving average is $117.83. Canadian National Railway has a 12-month low of $107.54 and a 12-month high of $134.02.

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 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 during the quarter, compared to analyst estimates of $4.08 billion. During the same period last year, the business earned $1.26 EPS. The business's revenue was up 3.1% on a year-over-year basis. On average, research analysts predict that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.24%. Canadian National Railway's dividend payout ratio (DPR) is 39.90%.

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.