BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 175,692 Shares of Canadian National Railway (NYSE:CNI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 13.2% during the third quarter, HoldingsChannel reports. The fund owned 1,511,719 shares of the transportation company’s stock after purchasing an additional 175,692 shares during the quarter. Canadian National Railway comprises about 1.1% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s investment portfolio, making the stock its 20th biggest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Canadian National Railway were worth $176,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Grove Bank & Trust lifted its holdings in Canadian National Railway by 15.3% during the 3rd quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock worth $86,000 after purchasing an additional 97 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Canadian National Railway by 2.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after acquiring an additional 100 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in Canadian National Railway by 1.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after acquiring an additional 102 shares in the last quarter. Blue Trust Inc. lifted its stake in Canadian National Railway by 19.3% in the 2nd quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock worth $77,000 after purchasing an additional 105 shares in the last quarter. Finally, Doheny Asset Management CA boosted its holdings in Canadian National Railway by 3.8% in the 2nd quarter. Doheny Asset Management CA now owns 3,000 shares of the transportation company’s stock valued at $354,000 after purchasing an additional 110 shares during the period. 80.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CNI. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Stifel Nicolaus raised their price objective on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Barclays boosted 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 report on Wednesday, September 25th. The Goldman Sachs Group reduced their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price for the company in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $125.86.

Canadian National Railway Trading Up 0.4 %

Shares of CNI opened at $111.65 on Friday. The company’s fifty day moving average is $112.39 and its 200 day moving average is $116.70. 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 capitalization of $70.31 billion, a PE ratio of 17.89, a P/E/G ratio of 2.51 and a beta of 0.89. Canadian National Railway has a fifty-two week low of $105.28 and a fifty-two week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The business 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%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.19%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

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.