Canadian National Railway (NYSE:CNI) Stake Decreased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lowered its holdings in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 3.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 142,367 shares of the transportation company's stock after selling 5,470 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Canadian National Railway were worth $16,680,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Canadian National Railway by 29.6% in the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company's stock valued at $10,820,000 after purchasing an additional 21,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Canadian National Railway by 5.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company's stock valued at $464,002,000 after acquiring an additional 202,303 shares during the last quarter. Partners Group Holding AG boosted its stake in Canadian National Railway by 16.3% in the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company's stock valued at $47,571,000 after acquiring an additional 56,849 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Canadian National Railway in the second quarter valued at $134,096,000. Finally, Sterling Investment Management LLC grew its holdings in shares of Canadian National Railway by 17.2% during the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company's stock worth $4,250,000 after purchasing an additional 5,329 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada raised shares of Canadian National Railway from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Benchmark reiterated a "hold" rating on shares of Canadian National Railway in a research report on Thursday, October 24th. The Goldman Sachs Group lowered their price target on Canadian National Railway from $131.00 to $124.00 and set a "sell" rating on the stock in a report on Wednesday, October 9th. Bank of America cut Canadian National Railway from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $129.00 to $122.00 in a report on Friday, October 4th. Finally, Sanford C. Bernstein lowered their target price on Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Canadian National Railway has a consensus rating of "Hold" and a consensus price target of $125.86.

Canadian National Railway Trading Down 0.5 %

Shares of CNI traded down $0.56 on Monday, hitting $111.13. 1,692,726 shares of the stock traded hands, compared to its average volume of 1,122,296. The firm has a market capitalization of $69.99 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.52 and a beta of 0.89. The stock's 50 day moving average is $112.39 and its two-hundred day moving average is $116.57. Canadian National Railway has a 1 year low of $105.28 and a 1 year high of $134.02. 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 (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) 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 the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. As a group, sell-side analysts predict that Canadian National Railway will post 5.49 earnings per share 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 paid 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 2.20%. Canadian National Railway's payout ratio is currently 39.26%.

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.