Janney Montgomery Scott LLC Grows Holdings in Canadian National Railway (NYSE:CNI)

Janney Montgomery Scott LLC increased its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 128,771 shares of the transportation company’s stock after purchasing an additional 5,301 shares during the period. Janney Montgomery Scott LLC’s holdings in Canadian National Railway were worth $15,086,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new stake in shares of Canadian National Railway in the second quarter valued at $134,096,000. Koshinski Asset Management Inc. purchased a new stake in Canadian National Railway during the first quarter worth about $627,000. Sterling Investment Management LLC lifted its position in shares of Canadian National Railway by 17.2% during the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock worth $4,250,000 after purchasing an additional 5,329 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Canadian National Railway in the first quarter valued at approximately $4,451,000. Finally, Sumitomo Life Insurance Co. acquired a new position in shares of Canadian National Railway in the second quarter valued at approximately $1,321,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $109.07 on Wednesday. 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 stock has a market cap of $68.58 billion, a P/E ratio of 17.48, a P/E/G ratio of 2.43 and a beta of 0.89. The stock has a 50 day moving average of $115.02 and a two-hundred day moving average of $118.44. Canadian National Railway has a twelve month low of $107.54 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, research analysts forecast that Canadian National Railway will post 5.54 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently declared 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 dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 39.26%.

Wall Street Analysts Forecast Growth

CNI has been the topic of a number of research reports. Stifel Nicolaus increased their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Citigroup upped their price target on Canadian National Railway from $125.00 to $126.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Stephens reiterated an “equal weight” rating and issued a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $125.18.

Canadian National Railway Company 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.