State Street Corp Sells 17,300 Shares of Canadian National Railway (NYSE:CNI)

State Street Corp decreased its holdings in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 310,572 shares of the transportation company's stock after selling 17,300 shares during the quarter. State Street Corp's holdings in Canadian National Railway were worth $36,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNI. 1832 Asset Management L.P. grew its stake in shares of Canadian National Railway by 7.8% in the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company's stock valued at $1,106,361,000 after buying an additional 674,536 shares in the last quarter. JARISLOWSKY FRASER Ltd lifted its holdings in Canadian National Railway by 1.2% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company's stock valued at $1,017,315,000 after purchasing an additional 99,716 shares during the last quarter. Fiera Capital Corp boosted its position in Canadian National Railway by 0.7% during the third quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company's stock worth $642,828,000 after purchasing an additional 39,063 shares during the period. The Manufacturers Life Insurance Company boosted its position in Canadian National Railway by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company's stock worth $570,667,000 after purchasing an additional 120,453 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of 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 purchasing an additional 202,303 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Up 0.5 %

Shares of NYSE CNI opened at $101.17 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. Canadian National Railway has a 1 year low of $99.90 and a 1 year high of $134.02. The stock has a market capitalization of $63.65 billion, a P/E ratio of 16.21, a P/E/G ratio of 2.43 and a beta of 0.89. The company has a 50-day moving average price of $109.36 and a 200-day moving average price of $114.54.

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 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Monday, December 9th. Canadian National Railway's dividend payout ratio is 38.14%.

Analyst Upgrades and Downgrades

CNI has been the topic of several research analyst reports. Bank of America downgraded shares of Canadian National Railway from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $129.00 to $122.00 in a research report on Friday, October 4th. 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 dropped 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 decreased 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, Stifel Nicolaus increased their price target on Canadian National Railway from $130.00 to $132.00 and gave the stock a "hold" rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Canadian National Railway currently has an average rating of "Hold" and an average target price of $125.86.

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.