Dynamic Technology Lab Private Ltd Trims Position in Canadian National Railway (NYSE:CNI)

Dynamic Technology Lab Private Ltd decreased its holdings in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 74.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,449 shares of the transportation company's stock after selling 13,219 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Canadian National Railway were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CNI. Principal Financial Group Inc. lifted its holdings in Canadian National Railway by 29.6% during the 3rd 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. boosted 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 valued at $464,002,000 after purchasing an additional 202,303 shares during the period. Manning & Napier Advisors LLC bought a new position in Canadian National Railway in the second quarter worth approximately $134,096,000. Sterling Investment Management LLC increased its holdings in Canadian National Railway by 17.2% during the 3rd quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company's stock worth $4,250,000 after purchasing an additional 5,329 shares during the period. Finally, Summit Global Investments purchased a new position in Canadian National Railway during the 3rd quarter worth $636,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Up 0.4 %

NYSE CNI traded up $0.43 during trading on Friday, hitting $111.69. The company's stock had a trading volume of 551,866 shares, compared to its average volume of 1,226,322. Canadian National Railway has a fifty-two week low of $105.28 and a fifty-two week high of $134.02. The company has a market cap of $70.34 billion, a PE ratio of 17.90, a P/E/G ratio of 2.51 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The business's 50 day simple moving average is $112.39 and its 200-day simple moving average is $116.63.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping 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 company had revenue of $4.11 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same period last year, the business earned $1.26 EPS. Canadian National Railway's revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities analysts anticipate that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced 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. This represents a $2.44 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, December 9th. Canadian National Railway's payout ratio is 39.26%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CNI. Wells Fargo & Company raised Canadian National Railway from an "equal weight" rating to an "overweight" rating and set a $125.00 price target on the stock in a research report on Monday, October 7th. Stephens reiterated an "equal weight" rating and set a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. Evercore ISI reduced their price target on shares of 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. Barclays increased their price objective on shares of 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. Finally, Bank of America downgraded shares of Canadian National Railway from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $125.86.

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.