Fmr LLC Has $221.22 Million Stake in Canadian National Railway (NYSE:CNI)

FMR LLC lessened its stake in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 15.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,889,207 shares of the transportation company's stock after selling 352,586 shares during the period. FMR LLC owned 0.30% of Canadian National Railway worth $221,224,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CNI. Principal Financial Group Inc. grew its stake 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 worth $10,820,000 after acquiring an additional 21,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Canadian National Railway by 5.4% in the 3rd 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 acquiring an additional 202,303 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Canadian National Railway during the 2nd quarter worth approximately $134,096,000. Sterling Investment Management LLC increased its holdings in shares of 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 acquiring an additional 5,329 shares during the last quarter. Finally, Summit Global Investments bought a new position in Canadian National Railway during the third quarter worth about $636,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Bank of America downgraded shares of Canadian National Railway from a "buy" rating to a "neutral" rating and cut their target price for the stock from $129.00 to $122.00 in a research report on Friday, October 4th. Veritas upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 23rd. Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a report on Thursday, October 24th. Susquehanna cut their price objective on Canadian National Railway from $130.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Finally, Stephens reiterated an "equal weight" rating and issued a $116.00 price objective on shares of Canadian National Railway in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $125.86.

Canadian National Railway Stock Performance

Shares of CNI stock traded down $1.15 during mid-day trading on Tuesday, hitting $109.97. 647,092 shares of the stock were exchanged, compared to its average volume of 1,123,215. The stock's fifty day simple moving average is $112.39 and its two-hundred day simple moving average is $116.57. The stock has a market capitalization of $69.26 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.52 and a beta of 0.89. Canadian National Railway has a 12-month low of $105.28 and a 12-month high of $134.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The firm's revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share. On average, analysts forecast that Canadian National Railway will post 5.49 EPS 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 dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.22%. Canadian National Railway's dividend payout ratio (DPR) is presently 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.