Canadian National Railway (NYSE:CNI) Shares Purchased by Immersion Capital LLP

Immersion Capital LLP grew its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 13.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 122,234 shares of the transportation company’s stock after buying an additional 14,200 shares during the quarter. Canadian National Railway comprises approximately 7.8% of Immersion Capital LLP’s portfolio, making the stock its 6th largest holding. Immersion Capital LLP’s holdings in Canadian National Railway were worth $14,320,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in Canadian National Railway during the second quarter worth about $26,000. Addison Advisors LLC raised its position in Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after buying an additional 148 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock worth $30,000 after purchasing an additional 229 shares during the last quarter. ORG Partners LLC acquired a new position in shares of Canadian National Railway during the 2nd quarter worth approximately $34,000. Finally, Coastline Trust Co acquired a new position in shares of Canadian National Railway during the 3rd quarter worth approximately $34,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Barclays upped their target price on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Sanford C. Bernstein lowered their target price on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a report on Wednesday, October 9th. Susquehanna lowered their price objective on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective for the company in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, thirteen 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $125.86.

Canadian National Railway Stock Performance

Shares of CNI stock traded down $1.54 on Tuesday, reaching $109.58. The stock had a trading volume of 151,086 shares, compared to its average volume of 1,120,956. Canadian National Railway has a 1 year low of $105.28 and a 1 year high of $134.02. The company has a 50 day simple moving average of $112.39 and a 200 day simple moving average of $116.57. The stock has a market cap of $69.01 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 2.52 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 (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts expect that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is presently 39.26%.

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.