Cerity Partners LLC Acquires 24,753 Shares of Canadian National Railway (NYSE:CNI)

Cerity Partners LLC boosted its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 25.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,445 shares of the transportation company’s stock after buying an additional 24,753 shares during the quarter. Cerity Partners LLC’s holdings in Canadian National Railway were worth $14,462,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Meridian Wealth Management LLC bought a new position in Canadian National Railway during the third quarter valued at $856,000. Citigroup Inc. lifted its position in shares of Canadian National Railway by 3.4% during the 3rd quarter. Citigroup Inc. now owns 114,124 shares of the transportation company’s stock valued at $13,379,000 after buying an additional 3,774 shares during the last quarter. Raymond James Trust N.A. purchased a new stake in Canadian National Railway in the 3rd quarter worth about $261,000. Charles Schwab Investment Management Inc. increased its holdings in Canadian National Railway by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,368,496 shares of the transportation company’s stock worth $160,419,000 after acquiring an additional 66,531 shares during the last quarter. Finally, King Luther Capital Management Corp raised its stake in Canadian National Railway by 2.3% in the 3rd quarter. King Luther Capital Management Corp now owns 8,932 shares of the transportation company’s stock valued at $1,046,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

CNI has been the subject of several recent research reports. Barclays lifted their target price 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. Evercore ISI lowered their target price on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a report on Wednesday, October 23rd. Bank of America lowered Canadian National Railway from a “buy” rating to a “neutral” rating and cut their price target for the stock from $129.00 to $122.00 in a report on Friday, October 4th. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $126.00 to $130.00 in a research note on Tuesday, November 12th. Finally, Stephens restated an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.48.

Canadian National Railway Stock Up 0.4 %

Shares of NYSE:CNI opened at $111.74 on Tuesday. The firm has a market capitalization of $70.37 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89. 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 has a 52-week low of $105.28 and a 52-week high of $134.02. The firm has a fifty day moving average of $112.96 and a 200 day moving average of $117.00.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.26 EPS. As a group, research 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 declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

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.