The Manufacturers Life Insurance Company Has $447.57 Million Holdings in Canadian National Railway (NYSE:CNI)

The Manufacturers Life Insurance Company lowered its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 21.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,819,623 shares of the transportation company’s stock after selling 1,016,722 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.61% of Canadian National Railway worth $447,574,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust raised its position in shares of Canadian National Railway by 15.3% in the third quarter. Grove Bank & Trust now owns 730 shares of the transportation company’s stock valued at $86,000 after buying an additional 97 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Canadian National Railway by 2.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after acquiring an additional 100 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Canadian National Railway by 1.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after acquiring an additional 102 shares during the period. Blue Trust Inc. lifted its position in shares of Canadian National Railway by 19.3% during the 2nd quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock valued at $77,000 after acquiring an additional 105 shares during the period. Finally, Doheny Asset Management CA grew its holdings in shares of Canadian National Railway by 3.8% during the 2nd quarter. Doheny Asset Management CA now owns 3,000 shares of the transportation company’s stock worth $354,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.4 %

NYSE:CNI opened at $111.74 on Tuesday. Canadian National Railway has a one year low of $105.28 and a one year high of $134.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The company has a market cap of $70.37 billion, a PE ratio of 17.91, a P/E/G ratio of 2.51 and a beta of 0.89. The firm’s 50 day simple moving average is $112.96 and its 200 day simple moving average is $117.00.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly 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. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. Canadian National Railway’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share. On average, research analysts anticipate that Canadian National Railway will post 5.49 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. Shareholders of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.19%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CNI shares. Stephens reaffirmed an “equal weight” rating and set a $116.00 price objective on shares of Canadian National Railway in a research report 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 report on Thursday, October 10th. Bank of America cut shares of Canadian National Railway from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Evercore ISI lowered their price objective on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research report on Wednesday, October 23rd. Finally, Barclays raised their target price on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. One equities research 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 stock. According to data from MarketBeat, Canadian National Railway currently has an average rating of “Hold” and a consensus price target of $125.48.

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.