Coronation Fund Managers Ltd. Sells 93,558 Shares of Canadian National Railway (NYSE:CNI)

Coronation Fund Managers Ltd. decreased its holdings in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 31.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,475 shares of the transportation company's stock after selling 93,558 shares during the period. Coronation Fund Managers Ltd.'s holdings in Canadian National Railway were worth $23,954,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CNI. Canada Pension Plan Investment Board raised its position in shares of Canadian National Railway by 92.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company's stock worth $593,911,000 after acquiring an additional 2,163,820 shares in the last quarter. Capital International Investors raised its position in shares of Canadian National Railway by 18.1% in the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company's stock worth $1,185,647,000 after acquiring an additional 1,379,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Canadian National Railway by 4,614.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company's stock worth $157,896,000 after acquiring an additional 1,307,689 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Canadian National Railway in the 2nd quarter worth approximately $134,096,000. Finally, 1832 Asset Management L.P. raised its position in shares of Canadian National Railway by 7.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company's stock worth $1,106,361,000 after acquiring an additional 674,536 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CNI shares. Barclays increased their target price on Canadian National Railway from $120.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 25th. Susquehanna cut their price target on 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. Sanford C. Bernstein cut their price target on Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating on the stock in a research note on Wednesday, October 9th. Citigroup upped their price target on Canadian National Railway from $125.00 to $126.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. Finally, Benchmark restated a "hold" rating on shares of Canadian National Railway in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $125.18.

Canadian National Railway Stock Performance

Shares of CNI stock traded up $0.29 on Friday, reaching $108.21. The stock had a trading volume of 801,392 shares, compared to its average volume of 1,344,362. The stock has a market cap of $68.04 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 2.42 and a beta of 0.89. Canadian National Railway has a 1 year low of $107.56 and a 1 year 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. The company has a 50 day simple moving average of $115.40 and a 200 day simple moving average of $118.70.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the business posted $1.26 EPS. Equities research analysts expect that Canadian National Railway will post 5.54 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued 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 2.26%. Canadian National Railway's dividend payout ratio is currently 39.90%.

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.