Canadian National Railway (NYSE:CNI) Stake Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 4.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 128,771 shares of the transportation company's stock after buying an additional 5,301 shares during the quarter. Janney Montgomery Scott LLC's holdings in Canadian National Railway were worth $15,086,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC lifted its holdings in Canadian National Railway by 19.4% in the 1st quarter. Private Advisor Group LLC now owns 10,263 shares of the transportation company's stock worth $1,352,000 after buying an additional 1,671 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Canadian National Railway in the first quarter valued at about $64,000. Jennison Associates LLC increased its holdings in Canadian National Railway by 22.6% during the 1st quarter. Jennison Associates LLC now owns 141,943 shares of the transportation company's stock worth $18,695,000 after purchasing an additional 26,204 shares during the last quarter. Whittier Trust Co. increased its holdings in Canadian National Railway by 7.8% during the 1st quarter. Whittier Trust Co. now owns 3,768 shares of the transportation company's stock worth $496,000 after purchasing an additional 273 shares during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Canadian National Railway during the 1st quarter valued at approximately $4,451,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNI has been the subject of a number of research analyst reports. Veritas upgraded shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 23rd. Stifel Nicolaus boosted their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a "hold" rating in a research 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 on the stock in a research report on Wednesday, October 23rd. Citigroup boosted their price objective on Canadian National Railway from $125.00 to $126.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. Finally, Susquehanna reduced their target price on Canadian National Railway from $130.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $125.18.

Canadian National Railway Stock Performance

Canadian National Railway stock traded up $3.31 during midday trading on Wednesday, reaching $112.32. 2,294,187 shares of the stock traded hands, compared to its average volume of 1,113,798. The firm has a fifty day moving average price of $114.92 and a two-hundred day moving average price of $118.40. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The firm has a market cap of $70.63 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 2.43 and a beta of 0.89. Canadian National Railway has a fifty-two week low of $107.54 and a fifty-two week 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm posted $1.26 EPS. Canadian National Railway's revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.18%. Canadian National Railway's dividend payout ratio (DPR) is 39.26%.

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.