Northwest & Ethical Investments L.P. Purchases 4,293 Shares of Canadian National Railway (NYSE:CNI)

Northwest & Ethical Investments L.P. increased its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.0% during the 3rd quarter, Holdings Channel reports. The firm owned 217,754 shares of the transportation company’s stock after buying an additional 4,293 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Canadian National Railway were worth $25,501,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Canadian National Railway during the second quarter valued at about $26,000. Addison Advisors LLC increased its position in shares of Canadian National Railway by 159.1% during the second 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 period. Fortitude Family Office LLC grew its holdings 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 worth $30,000 after purchasing an additional 229 shares during the period. ORG Partners LLC purchased a new stake in Canadian National Railway in the second quarter worth about $34,000. Finally, Coastline Trust Co bought a new position in shares of Canadian National Railway in the third quarter worth approximately $34,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $129.00 to $122.00 in a research report on Friday, October 4th. Evercore ISI reduced their price objective on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Finally, Barclays increased their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. One equities research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $125.86.

Canadian National Railway Trading Up 1.5 %

CNI traded up $1.61 on Thursday, reaching $111.25. 1,162,421 shares of the company traded hands, compared to its average volume of 1,259,692. Canadian National Railway has a one year low of $105.28 and a one year high of $134.02. The firm has a fifty day simple moving average of $112.66 and a two-hundred day simple moving average of $116.84. The company has a market cap of $70.06 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89. 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) (TSE:CNR) last issued its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the business posted $1.26 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts expect that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.20%. 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 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.