Janus Henderson Group PLC Buys 64,783 Shares of Canadian National Railway (NYSE:CNI)

Janus Henderson Group PLC boosted its stake in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 98.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,323 shares of the transportation company's stock after purchasing an additional 64,783 shares during the period. Janus Henderson Group PLC's holdings in Canadian National Railway were worth $15,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Addison Advisors LLC raised its position 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 purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of Canadian National Railway by 738.7% during the third 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 in the last quarter. ORG Partners LLC purchased a new stake in Canadian National Railway in the second quarter worth $34,000. Coastline Trust Co purchased a new position in Canadian National Railway during the 3rd quarter valued at $34,000. Finally, Reston Wealth Management LLC bought a new position in Canadian National Railway in the 3rd quarter worth $41,000. Institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Down 2.1 %

Canadian National Railway stock traded down $2.35 during trading hours on Friday, hitting $106.96. The stock had a trading volume of 1,569,201 shares, compared to its average volume of 1,285,524. The stock's 50-day moving average price is $111.64 and its 200-day moving average price is $115.93. The stock has a market capitalization of $67.36 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 2.50 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 quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The company 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 quarterly 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. Equities research analysts anticipate that Canadian National Railway will post 5.31 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway's dividend payout ratio is currently 39.26%.

Wall Street Analyst Weigh In

CNI has been the topic of a number of research reports. Susquehanna cut their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company raised Canadian National Railway from an "equal weight" rating to an "overweight" rating and set a $125.00 price objective on the stock in a research report on Monday, October 7th. Bank of America lowered Canadian National Railway from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $129.00 to $122.00 in a research report on Friday, October 4th. Barclays lifted their price target 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. Finally, The Goldman Sachs Group decreased their price objective on Canadian National Railway from $131.00 to $124.00 and set a "sell" rating for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $125.86.

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.