Raymond James Trust N.A. acquired a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the 3rd quarter, HoldingsChannel reports. The firm acquired 2,243 shares of the transportation company’s stock, valued at approximately $201,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. AMP Capital Investors Ltd lifted its position in Canadian National Railway by 3.4% during the third quarter. AMP Capital Investors Ltd now owns 489,282 shares of the transportation company’s stock worth $44,136,000 after purchasing an additional 15,953 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Canadian National Railway by 8.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,024,202 shares of the transportation company’s stock valued at $719,484,000 after purchasing an additional 628,194 shares during the period. Dimensional Fund Advisors LP increased its position in Canadian National Railway by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 347,599 shares of the transportation company’s stock valued at $31,214,000 after purchasing an additional 3,488 shares during the period. Pictet Asset Management Ltd. acquired a new stake in Canadian National Railway during the 3rd quarter valued at approximately $61,172,000. Finally, Credit Suisse AG boosted its holdings in shares of Canadian National Railway by 1.0% during the 3rd quarter. Credit Suisse AG now owns 1,240,883 shares of the transportation company’s stock worth $111,431,000 after buying an additional 12,110 shares in the last quarter. Institutional investors own 54.24% of the company’s stock.
CNI has been the topic of a number of recent research reports. Barclays reiterated a “hold” rating and issued a $88.00 target price on shares of Canadian National Railway in a report on Wednesday, September 26th. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Wednesday, October 10th. BMO Capital Markets lowered Canadian National Railway from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Tuesday, September 25th. Finally, Deutsche Bank lifted their price objective on Canadian National Railway from $96.00 to $101.00 and gave the stock a “buy” rating in a report on Monday. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Canadian National Railway presently has a consensus rating of “Hold” and a consensus price target of $92.07.
Shares of CNI opened at $82.06 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.72 and a quick ratio of 0.58. Canadian National Railway has a 52 week low of $70.59 and a 52 week high of $91.90. The stock has a market capitalization of $59.87 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 2.11 and a beta of 0.96.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, October 23rd. The transportation company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.38. Canadian National Railway had a return on equity of 22.67% and a net margin of 42.06%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. As a group, research analysts anticipate that Canadian National Railway will post 4.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 7th will be paid a dividend of $0.3477 per share. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.34. This represents a $1.39 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Thursday, December 6th. Canadian National Railway’s dividend payout ratio (DPR) is currently 35.94%.
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About Canadian National Railway
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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