6,114 Shares in Canadian National Railway (NYSE:CNI) Purchased by Valmark Advisers Inc.

Valmark Advisers Inc. bought a new position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 6,114 shares of the transportation company's stock, valued at approximately $716,000.

Several other hedge funds have also recently made changes to their positions in CNI. 1832 Asset Management L.P. lifted its holdings in Canadian National Railway by 7.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company's stock valued at $1,106,361,000 after buying an additional 674,536 shares in the last quarter. Capital International Investors raised its stake in Canadian National Railway by 18.1% in the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company's stock worth $1,185,647,000 after buying an additional 1,379,976 shares in the last quarter. JARISLOWSKY FRASER Ltd boosted its position in Canadian National Railway by 1.2% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company's stock valued at $1,017,315,000 after acquiring an additional 99,716 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of Canadian National Railway by 13.3% in the 2nd quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company's stock valued at $643,503,000 after acquiring an additional 638,817 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Canadian National Railway by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company's stock valued at $570,667,000 after purchasing an additional 120,453 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNI. Citigroup boosted their target price on shares of Canadian National Railway from $125.00 to $126.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. Bank of America cut Canadian National Railway from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $129.00 to $122.00 in a research report on Friday, October 4th. Barclays lifted their target price on Canadian National Railway from $120.00 to $121.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. The Goldman Sachs Group cut their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a "sell" rating on the stock in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada upgraded shares of Canadian National Railway from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Canadian National Railway currently has a consensus rating of "Hold" and a consensus price target of $125.18.

Canadian National Railway Trading Down 1.2 %

NYSE:CNI traded down $1.34 on Thursday, reaching $108.47. The company's stock had a trading volume of 548,503 shares, compared to its average volume of 1,108,548. The firm has a market cap of $68.21 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 2.49 and a beta of 0.88. 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 has a 12-month low of $105.17 and a 12-month high of $134.02. The stock has a 50 day moving average price of $115.72 and a 200 day moving average price of $119.04.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company's revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $1.26 EPS. On average, equities analysts anticipate that Canadian National Railway will post 5.54 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. Investors 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 annualized dividend and a yield of 2.25%. Canadian National Railway's dividend payout ratio (DPR) is 39.90%.

Canadian National Railway Company 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.