Forsta AP Fonden Acquires 17,700 Shares of Canadian National Railway (NYSE:CNI)

Forsta AP Fonden boosted its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,200 shares of the transportation company’s stock after acquiring an additional 17,700 shares during the quarter. Forsta AP Fonden’s holdings in Canadian National Railway were worth $16,318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. 1832 Asset Management L.P. increased its stake in Canadian National Railway by 7.8% in the second 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 acquiring an additional 674,536 shares during the period. Capital International Investors increased its stake 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 valued at $1,185,647,000 after acquiring an additional 1,379,976 shares during the period. JARISLOWSKY FRASER Ltd grew its stake in Canadian National Railway by 1.2% during the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock worth $1,017,315,000 after buying an additional 99,716 shares during the last quarter. Fiera Capital Corp grew its stake in Canadian National Railway by 13.3% during the second quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock worth $643,503,000 after buying an additional 638,817 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Canadian National Railway by 2.6% during the second 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 last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.1 %

Shares of NYSE CNI opened at $110.97 on Friday. The company’s 50 day simple moving average is $115.93 and its 200 day simple moving average is $119.45. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The firm has a market capitalization of $70.18 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.49%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the business posted $1.26 earnings per share. Canadian National Railway’s revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that Canadian National Railway will post 5.5 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.20%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.71%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNI. The Goldman Sachs Group decreased their price objective on shares of 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. Evercore ISI decreased their price objective 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. Stephens reaffirmed an “equal weight” rating and set a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday. 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. Finally, Sanford C. Bernstein decreased their price target on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Canadian National Railway presently has an average rating of “Hold” and an average target price of $125.18.

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.