Canadian National Railway (NYSE:CNI) Holdings Lowered by Quadrature Capital Ltd

Quadrature Capital Ltd decreased its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 49.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 982,500 shares of the transportation company's stock after selling 950,700 shares during the period. Canadian National Railway makes up 2.6% of Quadrature Capital Ltd's holdings, making the stock its 5th biggest position. Quadrature Capital Ltd owned 0.16% of Canadian National Railway worth $115,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP lifted its holdings in shares of Canadian National Railway by 3.0% during the 3rd quarter. Quantinno Capital Management LP now owns 24,986 shares of the transportation company's stock worth $2,927,000 after acquiring an additional 720 shares during the period. Point72 Asset Management L.P. bought a new stake in Canadian National Railway during the third quarter worth $159,907,000. Prana Capital Management LP acquired a new stake in shares of Canadian National Railway in the 3rd quarter valued at $2,740,000. Murchinson Ltd. bought a new position in shares of Canadian National Railway in the 3rd quarter valued at $241,000. Finally, Immersion Capital LLP raised its holdings in shares of Canadian National Railway by 13.1% during the 3rd quarter. Immersion Capital LLP now owns 122,234 shares of the transportation company's stock worth $14,320,000 after buying an additional 14,200 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Canadian National Railway Stock Down 0.1 %

Shares of NYSE CNI traded down $0.15 during mid-day trading on Thursday, hitting $109.51. 3,206,642 shares of the stock traded hands, compared to its average volume of 1,133,979. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. Canadian National Railway has a 52 week low of $105.28 and a 52 week high of $134.02. The company has a market cap of $68.97 billion, a price-to-earnings ratio of 17.57, a PEG ratio of 2.55 and a beta of 0.89. The stock has a fifty day moving average price of $111.98 and a 200-day moving average price of $116.28.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 earnings per share. Research analysts anticipate that Canadian National Railway will post 5.33 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. Investors of record on Monday, December 9th will be given 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 2.23%. Canadian National Railway's dividend payout ratio (DPR) is 39.26%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CNI. Barclays increased their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. 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. Bank of America cut shares of 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 note on Friday, October 4th. The Goldman Sachs Group dropped their price target on 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. Finally, Citigroup upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway presently has a consensus rating of "Hold" and an average 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.