Sterling Investment Management LLC Raises Stock Position in Canadian National Railway (NYSE:CNI)

Sterling Investment Management LLC raised its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 17.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,279 shares of the transportation company’s stock after purchasing an additional 5,329 shares during the period. Canadian National Railway accounts for approximately 3.2% of Sterling Investment Management LLC’s investment portfolio, making the stock its 7th biggest position. Sterling Investment Management LLC’s holdings in Canadian National Railway were worth $4,250,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNI. 1832 Asset Management L.P. lifted its stake in shares of Canadian National Railway by 7.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after purchasing an additional 674,536 shares during the period. Capital International Investors increased its holdings in Canadian National Railway by 18.1% in the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after purchasing an additional 1,379,976 shares in the last quarter. JARISLOWSKY FRASER Ltd lifted its stake in Canadian National Railway by 1.2% in the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock valued at $1,017,315,000 after buying an additional 99,716 shares during the period. Fiera Capital Corp lifted its stake in Canadian National Railway by 13.3% in the second quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock valued at $643,503,000 after buying an additional 638,817 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Canadian National Railway by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock worth $570,667,000 after buying an additional 120,453 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNI has been the topic of several research analyst reports. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. The Goldman Sachs Group dropped their price target on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Sanford C. Bernstein cut their price target on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a report on Wednesday, October 9th. Finally, Scotiabank upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Canadian National Railway currently has a consensus rating of “Hold” and an average target price of $126.02.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $113.62 on Monday. The firm has a market capitalization of $71.56 billion, a PE ratio of 18.21, a P/E/G ratio of 2.53 and a beta of 0.88. The company has a quick ratio of 0.48, a current ratio of 0.63 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average price of $115.94 and a two-hundred day moving average price of $120.02. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same period last year, the business posted $1.31 earnings per share. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. Equities analysts forecast that Canadian National Railway will post 5.5 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were given a $0.614 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

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.