Canadian National Railway (NYSE:CNI) Stake Boosted by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 6.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,562,480 shares of the transportation company’s stock after purchasing an additional 158,757 shares during the quarter. Geode Capital Management LLC’s holdings in Canadian National Railway were worth $302,895,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Addison Advisors LLC boosted its position in shares of Canadian National Railway by 159.1% in the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after buying an additional 148 shares during the period. Fortitude Family Office LLC boosted its position in 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 acquiring an additional 229 shares during the period. Coastline Trust Co purchased a new position in Canadian National Railway during the 3rd quarter valued at about $34,000. ORG Partners LLC acquired a new position in shares of Canadian National Railway in the 2nd quarter valued at about $34,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Canadian National Railway in the third quarter worth approximately $41,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

NYSE CNI opened at $103.83 on Friday. Canadian National Railway has a 1 year low of $103.82 and a 1 year high of $134.02. The company has a fifty day simple moving average of $110.61 and a 200 day simple moving average of $115.28. 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 cap of $65.32 billion, a P/E ratio of 16.64, a P/E/G ratio of 2.43 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 earnings per share. On average, sell-side analysts predict that Canadian National Railway will post 5.31 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. Shareholders of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 38.30%.

Analyst Ratings Changes

CNI has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price target for the stock from $126.00 to $130.00 in a research note on Tuesday, November 12th. Royal Bank of Canada upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their target price for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Finally, Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target for the company in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Canadian National Railway currently has an average rating of “Hold” and a consensus price target of $125.86.

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.