Canadian National Railway (NYSE:CNI) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,670 shares of the transportation company's stock after selling 11,301 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Canadian National Railway were worth $25,752,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Janus Henderson Group PLC lifted its position in shares of Canadian National Railway by 2.0% during the 1st quarter. Janus Henderson Group PLC now owns 82,561 shares of the transportation company's stock valued at $10,874,000 after acquiring an additional 1,606 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Canadian National Railway by 2.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company's stock worth $547,000 after purchasing an additional 100 shares during the last quarter. Atria Investments Inc boosted its holdings in Canadian National Railway by 23.1% in the 1st quarter. Atria Investments Inc now owns 26,435 shares of the transportation company's stock valued at $3,482,000 after purchasing an additional 4,966 shares during the period. Cetera Investment Advisers increased its holdings in shares of Canadian National Railway by 387.4% during the first quarter. Cetera Investment Advisers now owns 58,815 shares of the transportation company's stock worth $7,747,000 after buying an additional 46,748 shares in the last quarter. Finally, Cetera Advisors LLC increased its position in Canadian National Railway by 42.4% in the first quarter. Cetera Advisors LLC now owns 10,191 shares of the transportation company's stock worth $1,342,000 after purchasing an additional 3,032 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CNI shares. Barclays increased their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. Citigroup upgraded shares of Canadian National Railway from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $126.00 to $130.00 in a research note on Tuesday, November 12th. Benchmark reiterated a "hold" rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Susquehanna reduced their price target on Canadian National Railway from $130.00 to $125.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada upgraded Canadian National Railway from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. 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 issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $125.86.

Canadian National Railway Stock Up 0.4 %

Shares of CNI stock traded up $0.43 on Friday, reaching $111.69. 551,866 shares of the stock were exchanged, compared to its average volume of 1,226,322. Canadian National Railway has a twelve month low of $105.28 and a twelve month high of $134.02. The business's 50 day moving average price is $112.39 and its 200 day moving average price is $116.70. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $70.34 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.51 and a beta of 0.89.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced 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 for 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%. Canadian National Railway's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 EPS. As a group, sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.19%. Canadian National Railway's dividend payout ratio (DPR) is currently 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.