King Luther Capital Management Corp Purchases 200 Shares of Canadian National Railway (NYSE:CNI)

King Luther Capital Management Corp lifted its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,932 shares of the transportation company’s stock after purchasing an additional 200 shares during the quarter. King Luther Capital Management Corp’s holdings in Canadian National Railway were worth $1,046,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. 1832 Asset Management L.P. boosted its stake in Canadian National Railway by 7.8% during the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after buying an additional 674,536 shares in the last quarter. JARISLOWSKY FRASER Ltd lifted its holdings in shares of Canadian National Railway by 1.2% during the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock worth $1,017,315,000 after acquiring an additional 99,716 shares during the period. Fiera Capital Corp boosted its position in shares of Canadian National Railway by 0.7% during the 3rd quarter. Fiera Capital Corp now owns 5,482,524 shares of the transportation company’s stock valued at $642,828,000 after acquiring an additional 39,063 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Canadian National Railway by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock valued at $570,667,000 after acquiring an additional 120,453 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Canadian National Railway by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,986,555 shares of the transportation company’s stock worth $525,070,000 after purchasing an additional 125,949 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock opened at $111.24 on Friday. 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 firm has a 50 day simple moving average of $113.14 and a 200 day simple moving average of $117.17. Canadian National Railway has a fifty-two week low of $105.28 and a fifty-two week high of $134.02. The firm has a market cap of $70.06 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.47 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 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 company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.20%. Canadian National Railway’s dividend payout ratio is currently 39.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CNI shares. The Goldman Sachs Group decreased their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Barclays increased their price objective on 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 reduced 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 research note on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price for the company in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $125.48.

Canadian National Railway 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.