Ontario Teachers Pension Plan Board Sells 2,248 Shares of Canadian National Railway (NYSE:CNI)

Ontario Teachers Pension Plan Board decreased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 10.4% during the third quarter, Holdings Channel.com reports. The firm owned 19,386 shares of the transportation company’s stock after selling 2,248 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Canadian National Railway were worth $2,270,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CNI. Advisors Asset Management Inc. increased its holdings in shares of Canadian National Railway by 41.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 9,644 shares of the transportation company’s stock worth $1,130,000 after buying an additional 2,845 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in 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 acquiring an additional 202,303 shares during the last quarter. Commerce Bank raised its position in Canadian National Railway by 8.9% during the third quarter. Commerce Bank now owns 5,278 shares of the transportation company’s stock valued at $618,000 after purchasing an additional 431 shares during the period. Avior Wealth Management LLC lifted its stake in shares of Canadian National Railway by 103.4% in the 3rd quarter. Avior Wealth Management LLC now owns 2,427 shares of the transportation company’s stock valued at $284,000 after purchasing an additional 1,234 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its holdings in shares of Canadian National Railway by 5.2% in the 3rd quarter. Banque Cantonale Vaudoise now owns 3,099 shares of the transportation company’s stock worth $363,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Down 1.6 %

Shares of NYSE:CNI opened at $106.81 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 company has a market capitalization of $67.27 billion, a PE ratio of 17.12, a P/E/G ratio of 2.45 and a beta of 0.89. Canadian National Railway has a 12-month low of $106.40 and a 12-month high of $134.02. The business’s fifty day simple moving average is $113.69 and its 200-day simple moving average is $117.47.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS 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 business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the company posted $1.26 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts predict that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a $0.6108 dividend. This represents a $2.44 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 39.26%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CNI. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price target for the company from $126.00 to $130.00 in a report on Tuesday, November 12th. The Goldman Sachs Group reduced 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. Barclays lifted their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Sanford C. Bernstein decreased their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research note on Wednesday, October 9th. Finally, Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Canadian National Railway has an average rating of “Hold” and an average target price 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.