290 Shares in Canadian National Railway (NYSE:CNI) Acquired by Coastline Trust Co

Coastline Trust Co bought a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 290 shares of the transportation company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC acquired a new position in Canadian National Railway during the 2nd quarter worth about $134,096,000. Sterling Investment Management LLC boosted its stake in shares of Canadian National Railway by 17.2% in the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock valued at $4,250,000 after purchasing an additional 5,329 shares during the period. Summit Global Investments purchased a new position in shares of Canadian National Railway in the third quarter valued at approximately $636,000. Sumitomo Life Insurance Co. purchased a new stake in Canadian National Railway during the 2nd quarter worth approximately $1,321,000. Finally, Fiera Capital Corp lifted its holdings 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 buying an additional 638,817 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wells Fargo & Company upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target for the company in a research note on Monday, October 7th. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Bank of America cut Canadian National Railway from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $129.00 to $122.00 in a research note on Friday, October 4th. The Goldman Sachs Group cut their target price on shares of 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, Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $126.00 to $130.00 in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $125.48.

Canadian National Railway Stock Down 1.0 %

Shares of NYSE CNI opened at $108.90 on Monday. The business has a 50-day moving average price of $114.04 and a 200 day moving average price of $117.68. The stock has a market cap of $68.58 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.46 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 has a 52-week low of $107.54 and a 52-week high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 earnings per share. Equities research analysts forecast that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed 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. 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 2.24%. Canadian National Railway’s dividend payout ratio 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.