Canadian National Railway (NYSE:CNI) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP increased its holdings in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,562,189 shares of the transportation company's stock after purchasing an additional 790,420 shares during the quarter. Wellington Management Group LLP owned approximately 2.95% of Canadian National Railway worth $2,175,935,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Addison Advisors LLC lifted its position in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company's stock worth $28,000 after buying an additional 148 shares during the last quarter. Fortitude Family Office LLC lifted its position in Canadian National Railway by 738.7% in the third 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 last quarter. ORG Partners LLC acquired a new position in Canadian National Railway in the second quarter valued at $34,000. Coastline Trust Co purchased a new position in shares of Canadian National Railway during the third quarter worth about $34,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of Canadian National Railway during the third quarter worth about $41,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CNI. Veritas raised Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 23rd. Bank of America downgraded Canadian National Railway from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $129.00 to $122.00 in a report on Friday, October 4th. Wells Fargo & Company upgraded shares of Canadian National Railway from an "equal weight" rating to an "overweight" rating and set a $125.00 target price on the stock in a research report on Monday, October 7th. Citigroup upgraded shares of Canadian National Railway from a "neutral" rating to a "buy" rating and upped their price target for the company from $126.00 to $130.00 in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus raised their price objective on shares of 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, thirteen have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $125.86.

Canadian National Railway Price Performance

Shares of NYSE CNI traded down $2.35 during midday trading on Friday, hitting $106.96. The company had a trading volume of 1,569,201 shares, compared to its average volume of 1,191,623. The firm has a market capitalization of $67.36 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.56 and a beta of 0.89. Canadian National Railway has a twelve month low of $105.28 and a twelve month high of $134.02. The business 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.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its quarterly earnings results 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. 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 company's revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $1.26 EPS. Equities research analysts anticipate that Canadian National Railway will post 5.31 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.28%. Canadian National Railway's payout ratio is 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.