Canadian National Railway (NYSE:CNI) Shares Bought by Hendershot Investments Inc.

Hendershot Investments Inc. raised its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 13.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,187 shares of the transportation company’s stock after purchasing an additional 12,296 shares during the period. Canadian National Railway comprises approximately 1.7% of Hendershot Investments Inc.’s holdings, making the stock its 19th largest holding. Hendershot Investments Inc.’s holdings in Canadian National Railway were worth $12,206,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new stake in shares of Canadian National Railway in the third quarter worth $159,907,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Canadian National Railway by 4,614.6% during 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. Wellington Management Group LLP increased its position in shares of Canadian National Railway by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after purchasing an additional 790,420 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Canadian National Railway by 7.8% in 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. Finally, Fiera Capital Corp raised its stake in shares of Canadian National Railway by 13.3% in the 2nd quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock valued at $643,503,000 after purchasing 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 Analyst Weigh In

Several brokerages recently weighed in on CNI. Sanford C. Bernstein lowered their price objective on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. The Goldman Sachs Group reduced their price target on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Stifel Nicolaus increased their price objective 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. Finally, Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the company from $126.00 to $130.00 in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus price target of $125.86.

Canadian National Railway Price Performance

NYSE CNI opened at $106.97 on Friday. The firm has a market capitalization of $67.37 billion, a PE ratio of 17.14, a P/E/G ratio of 2.56 and a beta of 0.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. Canadian National Railway has a 12 month low of $105.28 and a 12 month high of $134.02. The company’s 50 day simple moving average is $111.83 and its 200 day simple moving average is $116.24.

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. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the business posted $1.26 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts forecast that Canadian National Railway will post 5.31 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s payout ratio is 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.