Aigen Investment Management LP Sells 5,758 Shares of Canadian National Railway (NYSE:CNI)

Aigen Investment Management LP lowered its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 55.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,550 shares of the transportation company's stock after selling 5,758 shares during the quarter. Aigen Investment Management LP's holdings in Canadian National Railway were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Harbour Investments Inc. increased its holdings in Canadian National Railway by 5.3% in the third quarter. Harbour Investments Inc. now owns 3,146 shares of the transportation company's stock valued at $369,000 after buying an additional 158 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Canadian National Railway during the third quarter valued at approximately $2,043,000. Catalytic Wealth RIA LLC boosted its position in Canadian National Railway by 2.3% in the 3rd quarter. Catalytic Wealth RIA LLC now owns 5,582 shares of the transportation company's stock valued at $654,000 after buying an additional 123 shares during the last quarter. YCG LLC boosted its stake in shares of Canadian National Railway by 14.8% during the 3rd quarter. YCG LLC now owns 294,826 shares of the transportation company's stock valued at $34,539,000 after buying an additional 37,980 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in shares of Canadian National Railway in the third quarter worth $56,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CNI. Stifel Nicolaus raised their price objective on Canadian National Railway from $130.00 to $132.00 and gave the stock a "hold" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised Canadian National Railway from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Stephens restated an "equal weight" rating and issued a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. Sanford C. Bernstein lowered their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating on the stock in a research report on Wednesday, October 9th. Finally, Benchmark reiterated a "hold" rating on shares of Canadian National Railway in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Canadian National Railway has an average rating of "Hold" and a consensus price target of $125.48.

Canadian National Railway Price Performance

Shares of CNI stock traded down $1.28 during trading on Thursday, hitting $110.11. The company had a trading volume of 814,593 shares, compared to its average volume of 1,114,153. The firm has a market capitalization of $69.24 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The stock's 50-day moving average price is $114.31 and its 200 day moving average price is $117.89. Canadian National Railway has a one year low of $107.54 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm's revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 earnings per share. Equities 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 declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Monday, December 9th. Canadian National Railway's payout ratio is currently 39.26%.

Canadian National Railway Company 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.