Raymond James & Associates Raises Holdings in Canadian National Railway (NYSE:CNI)

Raymond James & Associates increased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 271,552 shares of the transportation company’s stock after purchasing an additional 505 shares during the period. Raymond James & Associates’ holdings in Canadian National Railway were worth $31,812,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CNI. 1832 Asset Management L.P. lifted its stake in Canadian National Railway by 7.8% in the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after buying an additional 674,536 shares during the last quarter. Capital International Investors increased its holdings in shares of Canadian National Railway by 18.1% in the 1st quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after acquiring an additional 1,379,976 shares during the period. JARISLOWSKY FRASER Ltd increased its holdings in shares of Canadian National Railway by 1.2% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock valued at $1,017,315,000 after acquiring an additional 99,716 shares during the period. Fiera Capital Corp boosted its stake in Canadian National Railway by 13.3% during the 2nd quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock worth $643,503,000 after purchasing an additional 638,817 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Canadian National Railway by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock worth $570,667,000 after purchasing an additional 120,453 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $111.99 on Thursday. The firm has a market capitalization of $70.82 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 2.53 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. The business’s 50 day simple moving average is $116.02 and its 200-day simple moving average is $119.72. Canadian National Railway has a 12 month low of $103.96 and a 12 month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $1.26 earnings per share. Canadian National Railway’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, equities analysts forecast that Canadian National Railway will post 5.5 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $0.6108 dividend. 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 2.18%. Canadian National Railway’s payout ratio is 39.07%.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of research reports. Barclays upped their target price on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Stifel Nicolaus upped their price objective on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Citigroup started coverage on Canadian National Railway in a research note on Wednesday, October 9th. They set a “neutral” rating and a $125.00 price target for the company. Finally, Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target for the company in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and a consensus target price of $125.10.

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.