Citigroup Inc. Acquires 3,774 Shares of Canadian National Railway (NYSE:CNI)

Citigroup Inc. grew its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,124 shares of the transportation company’s stock after buying an additional 3,774 shares during the quarter. Citigroup Inc.’s holdings in Canadian National Railway were worth $13,379,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Canadian National Railway during the 2nd quarter valued at $26,000. Addison Advisors LLC grew its stake in shares of Canadian National Railway by 159.1% in the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC increased its holdings in Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares during the period. ORG Partners LLC bought a new position in Canadian National Railway during the 2nd quarter valued at approximately $34,000. Finally, Coastline Trust Co purchased a new stake in Canadian National Railway in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 1.5 %

Shares of Canadian National Railway stock opened at $111.26 on Friday. The company has a 50-day simple moving average of $112.50 and a two-hundred day simple moving average of $116.80. The stock has a market capitalization of $70.07 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 2.48 and a beta of 0.89. Canadian National Railway has a 52-week low of $105.28 and a 52-week high of $134.02. 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 data 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. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the business earned $1.26 EPS. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts anticipate that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm 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 of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.20%. Canadian National Railway’s payout ratio is 39.90%.

Analyst Ratings Changes

A number of analysts recently commented on CNI shares. Susquehanna dropped their price target on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report 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. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Finally, Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $129.00 to $122.00 in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.86.

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.