First Long Island Investors LLC Buys New Stake in Canadian National Railway (NYSE:CNI)

First Long Island Investors LLC purchased a new position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 128,199 shares of the transportation company’s stock, valued at approximately $15,019,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Canada Pension Plan Investment Board boosted its position in Canadian National Railway by 92.4% in the first quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock valued at $593,911,000 after buying an additional 2,163,820 shares in the last quarter. Capital International Investors boosted 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 worth $1,185,647,000 after acquiring an additional 1,379,976 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Canadian National Railway by 4,614.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after acquiring an additional 1,307,689 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Canadian National Railway during the 2nd quarter worth approximately $134,096,000. Finally, 1832 Asset Management L.P. increased its holdings in Canadian National Railway by 7.8% during the 2nd 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 purchasing an additional 674,536 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CNI. Sanford C. Bernstein reduced their price objective on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Stifel Nicolaus boosted their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Susquehanna decreased their price target on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company raised 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 report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $125.48.

Canadian National Railway Trading Down 0.7 %

NYSE:CNI traded down $0.74 during mid-day trading on Friday, hitting $109.31. The company had a trading volume of 315,331 shares, compared to its average volume of 1,111,786. The firm has a market cap of $68.73 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.52 and a beta of 0.89. Canadian National Railway has a fifty-two week low of $107.54 and a fifty-two week high of $134.02. The business’s fifty day moving average is $114.17 and its two-hundred day moving average is $117.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company posted $1.26 EPS. As a group, research analysts expect that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently declared 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. This represents a $2.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is 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.