Canadian National Railway (NYSE:CNI) Shares Bought by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. raised its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,531 shares of the transportation company’s stock after purchasing an additional 91 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Canadian National Railway were worth $549,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CNI. Norges Bank acquired a new position in shares of Canadian National Railway in the 4th quarter worth approximately $727,713,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Canadian National Railway by 25,348.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,650,355 shares of the transportation company’s stock worth $194,698,000 after acquiring an additional 1,643,870 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of Canadian National Railway in the 1st quarter worth approximately $137,546,000. Goldman Sachs Group Inc. lifted its holdings in shares of Canadian National Railway by 166.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,772,695 shares of the transportation company’s stock worth $199,375,000 after acquiring an additional 1,108,104 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its holdings in shares of Canadian National Railway by 98.5% in the 2nd quarter. Montrusco Bolton Investments Inc. now owns 1,963,411 shares of the transportation company’s stock worth $238,028,000 after acquiring an additional 974,096 shares during the last quarter. 67.60% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Down 0.6 %

Shares of NYSE:CNI opened at $114.67 on Tuesday. The stock has a market cap of $74.35 billion, a P/E ratio of 20.96, a P/E/G ratio of 3.14 and a beta of 0.91. The firm has a fifty day moving average price of $109.54 and a 200 day moving average price of $114.09. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.72 and a quick ratio of 0.56. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $129.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, October 24th. The transportation company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.03). Canadian National Railway had a return on equity of 23.53% and a net margin of 29.08%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.01 billion. Sell-side analysts predict that Canadian National Railway will post 5.31 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be paid a $0.5734 dividend. This represents a $2.29 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Wednesday, December 6th. Canadian National Railway’s dividend payout ratio (DPR) is 41.86%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Desjardins decreased their price objective on shares of Canadian National Railway from C$184.00 to C$181.00 in a report on Wednesday, July 26th. BMO Capital Markets reduced their target price on shares of Canadian National Railway from C$177.00 to C$175.00 in a report on Wednesday, July 26th. Argus lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. JPMorgan Chase & Co. dropped their price objective on shares of Canadian National Railway from C$167.00 to C$159.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 11th. Finally, National Bank Financial dropped their price objective on shares of Canadian National Railway from C$171.00 to C$168.00 in a research report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $144.22.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.