The Manufacturers Life Insurance Company Reduces Stock Holdings in Canadian National Railway (NYSE:CNI)

The Manufacturers Life Insurance Company lessened its stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 21.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,819,623 shares of the transportation company's stock after selling 1,016,722 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.61% of Canadian National Railway worth $447,574,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Canadian National Railway during the 2nd quarter valued at approximately $26,000. Addison Advisors LLC lifted its stake in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company's stock valued at $28,000 after acquiring an additional 148 shares during the period. Fortitude Family Office LLC lifted its stake in Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company's stock valued at $30,000 after acquiring an additional 229 shares during the period. ORG Partners LLC acquired a new stake in Canadian National Railway during the 2nd quarter valued at approximately $34,000. Finally, Coastline Trust Co acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock traded down $2.12 during trading hours on Tuesday, reaching $109.66. 1,221,906 shares of the company's stock were exchanged, compared to its average volume of 1,125,260. Canadian National Railway has a 1 year low of $105.28 and a 1 year high of $134.02. The company has a market capitalization of $69.06 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89. The business has a fifty day moving average of $112.77 and a two-hundred day moving average of $116.88. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. Canadian National Railway's quarterly revenue was up 3.1% on a year-over-year basis. As a group, research analysts predict 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 disclosed 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 dividend yield of 2.23%. The ex-dividend date is Monday, December 9th. Canadian National Railway's dividend payout ratio is currently 39.26%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Stephens reiterated an "equal weight" rating and issued a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Susquehanna decreased their target price 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 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 boosted their target price for the company from $126.00 to $130.00 in a research note on Tuesday, November 12th. Finally, Bank of America cut 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 report on Friday, October 4th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Canadian National Railway currently has a consensus rating of "Hold" and a consensus price target of $125.48.

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.