Canadian National Railway (NYSE:CNI) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 71.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,135 shares of the transportation company’s stock after acquiring an additional 1,306 shares during the quarter. Fisher Asset Management LLC’s holdings in Canadian National Railway were worth $367,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CNI. Principal Financial Group Inc. grew its holdings in Canadian National Railway by 29.6% during the 3rd quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock valued at $10,820,000 after purchasing an additional 21,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Canadian National Railway by 5.4% in 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 acquiring an additional 202,303 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Canadian National Railway in the second quarter valued at about $134,096,000. Sterling Investment Management LLC grew its stake in Canadian National Railway by 17.2% during the 3rd 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 in the last quarter. Finally, Summit Global Investments acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at approximately $636,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.4 %

Shares of NYSE:CNI opened at $111.69 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The firm has a market cap of $70.34 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.51 and a beta of 0.89. Canadian National Railway has a 12 month low of $105.28 and a 12 month high of $134.02. The company’s 50-day moving average price is $112.39 and its two-hundred day moving average price is $116.63.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The company 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 firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. As a group, research analysts forecast that Canadian National Railway will post 5.49 EPS 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. Investors of record on Monday, December 9th will be issued a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a yield of 2.19%. Canadian National Railway’s dividend payout ratio is presently 39.26%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CNI shares. Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus upped their price objective on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Susquehanna lowered their price target on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Barclays lifted 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. Finally, Stephens restated an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and an average target price of $125.86.

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.