Saturna Capital Corp Trims Stock Position in Canadian National Railway (NYSE:CNI)

Saturna Capital Corp lessened its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 384,000 shares of the transportation company's stock after selling 24,000 shares during the quarter. Saturna Capital Corp owned 0.06% of Canadian National Railway worth $44,986,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its position in shares of Canadian National Railway by 92.4% during the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company's stock worth $593,911,000 after purchasing an additional 2,163,820 shares during the last quarter. Capital International Investors lifted its holdings in Canadian National Railway by 18.1% during the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company's stock valued at $1,185,647,000 after buying an additional 1,379,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in 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 valued at $157,896,000 after buying an additional 1,307,689 shares during the period. Manning & Napier Advisors LLC bought a new position in Canadian National Railway in the 2nd quarter worth about $134,096,000. Finally, 1832 Asset Management L.P. increased its position in shares of Canadian National Railway by 7.8% during the second 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 during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNI has been the topic of several research analyst reports. Sanford C. Bernstein dropped their price objective 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. Stephens reissued an "equal weight" rating and set a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Susquehanna lowered their price objective on shares of Canadian National Railway from $130.00 to $125.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. 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 report on Wednesday, October 9th. Finally, Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $125.48.

Canadian National Railway Stock Performance

CNI stock traded down $0.14 during trading on Wednesday, reaching $111.43. The company had a trading volume of 1,044,314 shares, compared to its average volume of 1,115,896. The company has a market cap of $70.07 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. Canadian National Railway has a twelve month low of $107.54 and a twelve month 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 firm has a 50-day simple moving average of $114.46 and a 200-day simple moving average of $117.93.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The business 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%. The business's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. As a group, sell-side analysts expect that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company 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. This represents a $2.44 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway's payout ratio is 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.