Canadian National Railway (NYSE:CNI) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC increased its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 25.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,445 shares of the transportation company's stock after acquiring an additional 24,753 shares during the period. Cerity Partners LLC's holdings in Canadian National Railway were worth $14,462,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of Canadian National Railway by 29.6% in the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company's stock valued at $10,820,000 after buying an additional 21,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 worth $464,002,000 after acquiring an additional 202,303 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Canadian National Railway in the second quarter worth $134,096,000. Sterling Investment Management LLC lifted its position in shares of Canadian National Railway by 17.2% in the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company's stock valued at $4,250,000 after acquiring an additional 5,329 shares in the last quarter. Finally, Summit Global Investments purchased a new position in Canadian National Railway in the 3rd quarter valued at about $636,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Benchmark restated a "hold" rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Evercore ISI decreased their price objective on Canadian National Railway from $119.00 to $116.00 and set an "in-line" rating on the stock in a report on Wednesday, October 23rd. Barclays lifted their price objective 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. Sanford C. Bernstein reduced their target price on 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, Citigroup upgraded shares of Canadian National Railway from a "neutral" rating to a "buy" rating and boosted their target price for the company from $126.00 to $130.00 in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $125.48.

Canadian National Railway Stock Down 2.5 %

Shares of CNI traded down $2.85 during mid-day trading on Tuesday, reaching $108.93. 776,094 shares of the stock traded hands, compared to its average volume of 1,123,208. Canadian National Railway has a 12-month low of $105.28 and a 12-month high of $134.02. The firm has a market cap of $68.60 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 2.51 and a beta of 0.89. 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 stock has a fifty day simple moving average of $112.96 and a 200 day simple moving average of $117.00.

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 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 business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The company's revenue for the quarter was up 3.1% compared to the same quarter last year. Sell-side analysts expect that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business 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 2.24%. The ex-dividend date is Monday, December 9th. Canadian National Railway's 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.