Connor Clark & Lunn Investment Management Ltd. Acquires 202,303 Shares of Canadian National Railway (NYSE:CNI)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,962,972 shares of the transportation company's stock after purchasing an additional 202,303 shares during the period. Canadian National Railway comprises about 2.2% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 6th largest holding. Connor Clark & Lunn Investment Management Ltd. owned 0.63% of Canadian National Railway worth $464,002,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Commerce Bank lifted its holdings in Canadian National Railway by 8.9% during the 3rd quarter. Commerce Bank now owns 5,278 shares of the transportation company's stock worth $618,000 after buying an additional 431 shares in the last quarter. Avior Wealth Management LLC raised its position in Canadian National Railway by 103.4% during the third quarter. Avior Wealth Management LLC now owns 2,427 shares of the transportation company's stock worth $284,000 after acquiring an additional 1,234 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in Canadian National Railway by 5.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,099 shares of the transportation company's stock valued at $363,000 after purchasing an additional 152 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Canadian National Railway by 6.5% during the 3rd quarter. Natixis Advisors LLC now owns 214,182 shares of the transportation company's stock valued at $25,091,000 after acquiring an additional 13,149 shares during the last quarter. Finally, Coastline Trust Co purchased a new stake in shares of Canadian National Railway during the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CNI shares. Barclays upped their price objective on Canadian National Railway from $120.00 to $121.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. Evercore ISI cut their price objective on Canadian National Railway from $119.00 to $116.00 and set an "in-line" rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company raised Canadian National Railway from an "equal weight" rating to an "overweight" rating and set a $125.00 price objective for the company in a research note on Monday, October 7th. Bank of America downgraded shares of Canadian National Railway from a "buy" rating to a "neutral" rating and cut their target price for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Finally, Veritas upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 23rd. One equities 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 company's stock. According to MarketBeat, Canadian National Railway presently has a consensus rating of "Hold" and an average price target of $125.48.

Canadian National Railway Price Performance

CNI traded up $0.13 on Wednesday, reaching $106.84. The company had a trading volume of 1,101,826 shares, compared to its average volume of 1,120,623. Canadian National Railway has a one year low of $105.28 and a one year high of $134.02. The company has a fifty day moving average of $113.69 and a 200-day moving average of $117.47. The company has a market capitalization of $67.29 billion, a P/E ratio of 17.12, a PEG ratio of 2.45 and a beta of 0.89. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.

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 the consensus estimate 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 business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the firm earned $1.26 EPS. Canadian National Railway's quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid 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 2.29%. Canadian National Railway's dividend payout ratio is currently 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.