First Long Island Investors LLC Takes $15.02 Million Position in Canadian National Railway (NYSE:CNI)

First Long Island Investors LLC purchased a new position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 128,199 shares of the transportation company's stock, valued at approximately $15,019,000.

A number of other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Canadian National Railway during the 2nd quarter valued at about $26,000. Addison Advisors LLC lifted its stake in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company's stock valued at $28,000 after acquiring an additional 148 shares during the period. Fortitude Family Office LLC lifted its stake in Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company's stock valued at $30,000 after acquiring an additional 229 shares during the period. ORG Partners LLC bought a new position in Canadian National Railway during the 2nd quarter valued at about $34,000. Finally, Reston Wealth Management LLC bought a new position in Canadian National Railway during the 3rd quarter valued at about $41,000. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Price Performance

CNI stock traded down $1.16 during midday trading on Friday, hitting $108.89. The company's stock had a trading volume of 1,417,873 shares, compared to its average volume of 1,117,071. Canadian National Railway has a 12 month low of $107.54 and a 12 month high of $134.02. 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 $68.47 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. The company has a 50 day moving average of $114.17 and a two-hundred day moving average of $117.83.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping 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 the consensus estimate of $4.08 billion. During the same period in the prior year, the company posted $1.26 EPS. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. On average, analysts expect that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently declared 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 annualized dividend and a yield of 2.24%. Canadian National Railway's payout ratio is 39.90%.

Analyst Ratings Changes

Several equities analysts have issued reports on CNI shares. Wells Fargo & Company upgraded shares of 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 note on Monday, October 7th. Citigroup raised shares of Canadian National Railway from a "neutral" rating to a "buy" rating and upped their price target for the company from $126.00 to $130.00 in a research report on Tuesday. Veritas raised shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein reduced their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating for the company in a research report on Wednesday, October 9th. Finally, Stephens reaffirmed an "equal weight" rating and set a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $125.48.

Canadian National Railway 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.