Zurcher Kantonalbank Zurich Cantonalbank Sells 11,301 Shares of Canadian National Railway (NYSE:CNI)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.9% in the third quarter, Holdings Channel.com reports. The fund owned 219,670 shares of the transportation company’s stock after selling 11,301 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Canadian National Railway were worth $25,752,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CNI. Janus Henderson Group PLC boosted its stake in shares of Canadian National Railway by 2.0% during the first quarter. Janus Henderson Group PLC now owns 82,561 shares of the transportation company’s stock valued at $10,874,000 after purchasing an additional 1,606 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in Canadian National Railway by 2.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after buying an additional 100 shares during the period. Atria Investments Inc grew its stake in Canadian National Railway by 23.1% in the 1st quarter. Atria Investments Inc now owns 26,435 shares of the transportation company’s stock worth $3,482,000 after acquiring an additional 4,966 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Canadian National Railway by 387.4% during the first quarter. Cetera Investment Advisers now owns 58,815 shares of the transportation company’s stock worth $7,747,000 after acquiring an additional 46,748 shares during the period. Finally, Cetera Advisors LLC raised its stake in shares of Canadian National Railway by 42.4% during the first quarter. Cetera Advisors LLC now owns 10,191 shares of the transportation company’s stock valued at $1,342,000 after acquiring an additional 3,032 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 0.4 %

NYSE:CNI opened at $111.65 on Friday. The firm has a 50 day moving average of $112.39 and a 200 day moving average of $116.70. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. Canadian National Railway has a 52 week low of $105.28 and a 52 week high of $134.02. The stock has a market capitalization of $70.31 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.51 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data 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 firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Canadian National Railway will post 5.49 earnings per share for the current fiscal 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 issued a $0.6108 dividend. This represents a $2.44 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio is presently 39.26%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Stephens reissued an “equal weight” rating and issued a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday, October 23rd. The Goldman Sachs Group cut 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. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $126.00 to $130.00 in a research note on Tuesday, November 12th. Wells Fargo & Company raised shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price on the stock in a research report on Monday, October 7th. Finally, Barclays upped their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One equities research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $125.86.

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.