Summit Global Investments Purchases Shares of 5,425 Canadian National Railway (NYSE:CNI)

Summit Global Investments bought a new stake in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,425 shares of the transportation company's stock, valued at approximately $636,000.

A number of other institutional investors also recently added to or reduced their stakes in CNI. Daiwa Securities Group Inc. purchased a new position in Canadian National Railway in the first quarter valued at $64,000. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Canadian National Railway by 36.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 16,922 shares of the transportation company's stock valued at $2,229,000 after purchasing an additional 4,551 shares during the last quarter. Atomi Financial Group Inc. grew its position in shares of Canadian National Railway by 32.6% during the first quarter. Atomi Financial Group Inc. now owns 2,784 shares of the transportation company's stock worth $367,000 after acquiring an additional 684 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Canadian National Railway by 82.2% in the 1st quarter. Concurrent Investment Advisors LLC now owns 6,274 shares of the transportation company's stock valued at $826,000 after purchasing an additional 2,830 shares during the last quarter. Finally, Choate Investment Advisors grew its position in Canadian National Railway by 2.0% during the 1st quarter. Choate Investment Advisors now owns 154,612 shares of the transportation company's stock worth $20,364,000 after purchasing an additional 2,975 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on CNI. Royal Bank of Canada upgraded Canadian National Railway from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Evercore ISI cut their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an "in-line" rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company raised Canadian National Railway from an "equal weight" rating to an "overweight" rating and set a $125.00 price target for the company in a report on Monday, October 7th. Stephens reiterated 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. Finally, Benchmark restated a "hold" rating on shares of Canadian National Railway in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway presently has a consensus rating of "Hold" and a consensus target price of $125.18.

Canadian National Railway Trading Down 2.2 %

Canadian National Railway stock traded down $2.54 during trading on Friday, hitting $110.80. The company's stock had a trading volume of 1,018,526 shares, compared to its average volume of 1,331,493. The stock's fifty day moving average is $114.71 and its 200 day moving average is $118.15. Canadian National Railway has a 1-year low of $107.54 and a 1-year high of $134.02. The stock has a market capitalization of $69.67 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 2.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the firm posted $1.26 EPS. The company's revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts predict that Canadian National Railway will post 5.52 EPS 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. Stockholders 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 annualized dividend and a dividend yield of 2.21%. Canadian National Railway's dividend payout ratio is presently 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.