Intact Investment Management Inc. Sells 96,330 Shares of Canadian National Railway (NYSE:CNI)

Intact Investment Management Inc. trimmed its holdings in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 19.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 388,769 shares of the transportation company's stock after selling 96,330 shares during the quarter. Canadian National Railway comprises about 1.5% of Intact Investment Management Inc.'s investment portfolio, making the stock its 16th largest holding. Intact Investment Management Inc. owned approximately 0.06% of Canadian National Railway worth $45,528,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Van ECK Associates Corp grew its stake in Canadian National Railway by 45.0% during the third quarter. Van ECK Associates Corp now owns 233,110 shares of the transportation company's stock worth $26,126,000 after buying an additional 72,320 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Canadian National Railway by 4.3% during the third quarter. Janney Montgomery Scott LLC now owns 128,771 shares of the transportation company's stock worth $15,086,000 after buying an additional 5,301 shares in the last quarter. Pembroke Management LTD grew its stake in Canadian National Railway by 36.6% during the third quarter. Pembroke Management LTD now owns 5,493 shares of the transportation company's stock worth $644,000 after buying an additional 1,473 shares in the last quarter. White Pine Investment CO grew its stake in Canadian National Railway by 2.3% during the third quarter. White Pine Investment CO now owns 48,755 shares of the transportation company's stock worth $5,712,000 after buying an additional 1,112 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Canadian National Railway by 310.5% during the third quarter. Farther Finance Advisors LLC now owns 1,404 shares of the transportation company's stock worth $164,000 after buying an additional 1,062 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CNI shares. Scotiabank upgraded shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 10th. The Goldman Sachs Group reduced their price target 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. Royal Bank of Canada upgraded shares of Canadian National Railway from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Susquehanna reduced their price target 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. Finally, Bank of America lowered shares of Canadian National Railway from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $129.00 to $122.00 in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $125.18.

Canadian National Railway Trading Down 0.2 %

CNI stock traded down $0.21 during mid-day trading on Monday, reaching $108.00. The company's stock had a trading volume of 1,087,393 shares, compared to its average volume of 1,108,971. Canadian National Railway has a 12 month low of $107.54 and a 12 month high of $134.02. 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 business's 50 day moving average price is $115.40 and its 200 day moving average price is $118.70. The company has a market cap of $67.91 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 2.42 and a beta of 0.89.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data 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 analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. Canadian National Railway's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. On average, equities research analysts predict that Canadian National Railway will post 5.54 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend 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.