Canadian National Railway (NYSE:CNI) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp grew its holdings in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,071,188 shares of the transportation company's stock after purchasing an additional 9,415 shares during the period. Stifel Financial Corp owned approximately 0.17% of Canadian National Railway worth $125,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Safe Harbor Fiduciary LLC acquired a new position in Canadian National Railway during the 3rd quarter worth approximately $423,000. Quantinno Capital Management LP increased its stake in Canadian National Railway by 3.0% in the 3rd quarter. Quantinno Capital Management LP now owns 24,986 shares of the transportation company's stock valued at $2,927,000 after purchasing an additional 720 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Canadian National Railway in the 3rd quarter valued at approximately $159,907,000. Prana Capital Management LP purchased a new position in Canadian National Railway in the 3rd quarter valued at approximately $2,740,000. Finally, Murchinson Ltd. purchased a new position in Canadian National Railway in the 3rd quarter valued at approximately $241,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. The Goldman Sachs Group dropped their price objective 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. Royal Bank of Canada raised Canadian National Railway from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Stephens reaffirmed an "equal weight" rating and issued a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Sanford C. Bernstein dropped their price objective on Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating for the company in a research note on Wednesday, October 9th. Finally, Bank of America downgraded Canadian National Railway from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $129.00 to $122.00 in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Canadian National Railway currently has an average rating of "Hold" and an average target price of $125.86.

Canadian National Railway Trading Down 2.1 %

Shares of CNI stock traded down $2.34 during mid-day trading on Friday, hitting $106.97. 1,569,047 shares of the company's stock were exchanged, compared to its average volume of 1,137,913. Canadian National Railway has a fifty-two week low of $105.28 and a fifty-two week high of $134.02. The stock has a 50-day simple moving average of $111.83 and a two-hundred day simple moving average of $116.24. 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 market cap of $67.37 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.56 and a beta of 0.89.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The business had revenue of $4.11 billion for the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The business's revenue was up 3.1% on a year-over-year basis. Equities analysts expect 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. Investors of record on Monday, December 9th will be issued a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway's payout ratio is currently 39.26%.

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.