Swiss National Bank Reduces Stake in Canadian National Railway (NYSE:CNI)

Swiss National Bank reduced its holdings in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,625,600 shares of the transportation company's stock after selling 8,500 shares during the quarter. Swiss National Bank owned approximately 0.26% of Canadian National Railway worth $190,659,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CNI. Canada Pension Plan Investment Board raised its position in shares of Canadian National Railway by 92.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company's stock valued at $593,911,000 after acquiring an additional 2,163,820 shares during the last quarter. Capital International Investors increased its position in shares of Canadian National Railway by 18.1% in 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 increased its position in shares of 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 in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Canadian National Railway in the 2nd quarter valued at $134,096,000. Finally, 1832 Asset Management L.P. increased its holdings in Canadian National Railway by 7.8% during the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company's stock worth $1,106,361,000 after purchasing an additional 674,536 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CNI shares. Evercore ISI lowered their target price on 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. Bank of America downgraded shares of Canadian National Railway from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. The Goldman Sachs Group reduced their price objective on shares of 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. Citigroup upgraded shares of Canadian National Railway from a "neutral" rating to a "buy" rating and raised their target price for the company from $126.00 to $130.00 in a research note on Tuesday, November 12th. Finally, 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. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Canadian National Railway has a consensus rating of "Hold" and a consensus target price of $125.48.

Canadian National Railway Stock Down 0.3 %

CNI traded down $0.36 during midday trading on Monday, hitting $108.54. The company had a trading volume of 926,454 shares, compared to its average volume of 1,116,131. 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's 50 day moving average price is $114.04 and its 200 day moving average price is $117.68. The company has a market capitalization of $68.36 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.46 and a beta of 0.89. Canadian National Railway has a 52 week low of $107.54 and a 52 week high of $134.02.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results 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 company 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 firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. On average, research analysts anticipate that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway's dividend payout ratio (DPR) is presently 39.26%.

Canadian National Railway Company 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.