Y Intercept Hong Kong Ltd Acquires New Shares in Canadian National Railway (NYSE:CNI)

Y Intercept Hong Kong Ltd acquired a new position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,023 shares of the transportation company's stock, valued at approximately $823,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Addison Advisors LLC raised its position in Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company's stock valued at $28,000 after buying an additional 148 shares during the last quarter. Fortitude Family Office LLC grew its stake in shares of Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company's stock worth $30,000 after acquiring an additional 229 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Canadian National Railway in the second quarter valued at approximately $34,000. Coastline Trust Co bought a new stake in shares of Canadian National Railway in the third quarter worth $34,000. Finally, Reston Wealth Management LLC acquired a new position in Canadian National Railway during the third quarter worth $41,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CNI. Evercore ISI lowered their price target on shares of Canadian National Railway from $119.00 to $116.00 and set an "in-line" rating on the stock in a research note on Wednesday, October 23rd. Sanford C. Bernstein lowered their target price on Canadian National Railway from $130.67 to $126.29 and set a "market perform" rating on the stock in a research report on Wednesday, October 9th. Stephens reissued an "equal weight" rating and set a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Benchmark restated a "hold" rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Finally, Bank of America cut Canadian National Railway from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $125.86.

Canadian National Railway Stock Performance

CNI traded down $0.84 on Friday, reaching $103.83. The company had a trading volume of 981,292 shares, compared to its average volume of 1,425,125. The company's fifty day moving average is $110.61 and its 200 day moving average is $115.34. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The stock has a market cap of $65.32 billion, a P/E ratio of 16.64, a P/E/G ratio of 2.43 and a beta of 0.89. Canadian National Railway has a fifty-two week low of $103.82 and a fifty-two 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, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm's revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. As a group, analysts predict that Canadian National Railway will post 5.31 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.35%. Canadian National Railway's payout ratio is presently 38.30%.

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.