Canadian National Railway (NYSE:CNI) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 30.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,794 shares of the transportation company's stock after selling 8,610 shares during the period. Sanctuary Advisors LLC's holdings in Canadian National Railway were worth $2,202,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNI. SkyView Investment Advisors LLC increased its holdings in Canadian National Railway by 5.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 40,218 shares of the transportation company's stock valued at $4,712,000 after purchasing an additional 1,903 shares during the last quarter. Advisory Resource Group boosted its position in shares of Canadian National Railway by 13.4% during the third quarter. Advisory Resource Group now owns 8,391 shares of the transportation company's stock worth $983,000 after buying an additional 989 shares during the period. Unigestion Holding SA grew its stake in shares of Canadian National Railway by 363.6% in the third quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company's stock valued at $18,012,000 after buying an additional 120,687 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Canadian National Railway by 64.5% in the 3rd quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company's stock valued at $174,813,000 after buying an additional 584,832 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Canadian National Railway by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,562,480 shares of the transportation company's stock worth $302,895,000 after acquiring an additional 158,757 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analyst Weigh In

CNI has been the subject of several research reports. Bank of America downgraded Canadian National Railway from a "buy" rating to a "neutral" rating and dropped their target price for the company from $129.00 to $122.00 in a research report on Friday, October 4th. The Goldman Sachs Group cut their target price 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. Stifel Nicolaus increased their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a "hold" rating in a report on Wednesday, October 23rd. Benchmark restated a "hold" rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Finally, Citigroup upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and increased their price objective for the company from $126.00 to $130.00 in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $125.86.

Canadian National Railway Stock Down 0.8 %

CNI traded down $0.78 on Thursday, reaching $100.62. The company's stock had a trading volume of 1,543,464 shares, compared to its average volume of 1,147,107. The company has a market capitalization of $63.30 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.43 and a beta of 0.89. Canadian National Railway has a fifty-two week low of $100.32 and a fifty-two week 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. The stock has a 50 day moving average of $109.94 and a two-hundred day moving average of $114.81.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results 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 business had revenue of $4.11 billion during 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 company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 EPS. As a group, analysts forecast that Canadian National Railway will post 5.31 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway's dividend payout ratio (DPR) is currently 38.14%.

About Canadian National Railway

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.