7,755 Shares in Canadian National Railway (NYSE:CNI) Bought by MQS Management LLC

MQS Management LLC purchased a new stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,755 shares of the transportation company's stock, valued at approximately $908,000. Canadian National Railway accounts for 0.5% of MQS Management LLC's holdings, making the stock its 22nd largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Canadian National Railway in the second quarter worth about $26,000. Addison Advisors LLC increased its stake in shares of Canadian National Railway by 159.1% during the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company's stock valued at $28,000 after purchasing an additional 148 shares in the last quarter. Fortitude Family Office LLC increased its stake 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 purchasing an additional 229 shares in the last quarter. ORG Partners LLC bought a new position in shares of Canadian National Railway during the second quarter valued at approximately $34,000. Finally, Reston Wealth Management LLC bought a new position in shares of Canadian National Railway during the third quarter valued at approximately $41,000. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CNI has been the subject of a number of analyst reports. Stephens reaffirmed an "equal weight" rating and set a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Susquehanna decreased their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on shares of Canadian National Railway from $131.00 to $124.00 and set a "sell" rating for the company in a research note on Wednesday, October 9th. Benchmark reiterated a "hold" rating on shares of Canadian National Railway in a report on Thursday, October 24th. Finally, Wells Fargo & Company upgraded shares of Canadian National Railway from an "equal weight" rating to an "overweight" rating and set a $125.00 price target on the stock in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $125.48.

Canadian National Railway Price Performance

NYSE:CNI traded down $0.18 during trading hours on Wednesday, reaching $111.39. 987,504 shares of the company were exchanged, compared to its average volume of 1,115,638. 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 stock's 50-day moving average is $114.46 and its 200-day moving average is $117.93. The firm has a market cap of $70.04 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. Canadian National Railway has a twelve month low of $107.54 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its 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. 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 for the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter last year, the company earned $1.26 earnings per share. The firm's revenue was up 3.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. 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 2.19%. Canadian National Railway's payout ratio is currently 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.