Advisors Asset Management Inc. Has $1.13 Million Stock Position in Canadian National Railway (NYSE:CNI)

Advisors Asset Management Inc. boosted its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 41.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,644 shares of the transportation company’s stock after buying an additional 2,845 shares during the quarter. Advisors Asset Management Inc.’s holdings in Canadian National Railway were worth $1,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 1832 Asset Management L.P. lifted its holdings in shares of Canadian National Railway by 7.8% in the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after acquiring an additional 674,536 shares during the last quarter. JARISLOWSKY FRASER Ltd lifted its stake in Canadian National Railway by 1.2% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock valued at $1,017,315,000 after purchasing an additional 99,716 shares during the last quarter. Fiera Capital Corp boosted its position in Canadian National Railway by 0.7% in the third quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock valued at $642,828,000 after buying an additional 39,063 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Canadian National Railway by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock worth $570,667,000 after buying an additional 120,453 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Canadian National Railway by 5.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock worth $464,002,000 after buying an additional 202,303 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

Shares of CNI opened at $111.74 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The firm’s fifty day simple moving average is $112.96 and its two-hundred day simple moving average is $117.00. Canadian National Railway has a 12 month low of $105.28 and a 12 month high of $134.02. The stock has a market capitalization of $70.37 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 earnings per share. As a group, analysts predict that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.19%. Canadian National Railway’s payout ratio is presently 39.26%.

Analyst Ratings Changes

Several research firms recently weighed in on CNI. Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Sanford C. Bernstein cut their price target 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. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Finally, Stephens reissued an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $125.48.

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.