UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 68,389 Shares of Canadian National Railway (NYSE:CNI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 930,050 shares of the transportation company’s stock after selling 68,389 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.15% of Canadian National Railway worth $108,955,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CNI. Bridgewater Associates LP increased its holdings in Canadian National Railway by 10.2% in the 3rd quarter. Bridgewater Associates LP now owns 51,720 shares of the transportation company’s stock worth $6,063,000 after buying an additional 4,795 shares in the last quarter. Townsquare Capital LLC bought a new stake in shares of Canadian National Railway in the third quarter worth approximately $240,000. BNP Paribas Financial Markets raised its holdings in shares of Canadian National Railway by 32.3% during the third quarter. BNP Paribas Financial Markets now owns 116,781 shares of the transportation company’s stock valued at $13,681,000 after purchasing an additional 28,517 shares during the last quarter. Partners Group Holding AG lifted its position in Canadian National Railway by 16.3% during the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock valued at $47,571,000 after purchasing an additional 56,849 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in Canadian National Railway by 25.0% in the third quarter. Quantbot Technologies LP now owns 57,484 shares of the transportation company’s stock worth $6,734,000 after purchasing an additional 11,483 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein lowered 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. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and cut their price target for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Wells Fargo & Company upgraded shares of Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price objective on the stock in a research note on Monday, October 7th. Finally, Stephens restated an “equal weight” rating and set a $116.00 target price on shares of Canadian National Railway in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $125.86.

Canadian National Railway Stock Up 0.4 %

Shares of CNI stock opened at $111.69 on Monday. The company’s fifty day simple moving average is $112.39 and its two-hundred day simple moving average is $116.57. Canadian National Railway has a 52 week low of $105.28 and a 52 week high of $134.02. The stock has a market cap of $70.34 billion, a P/E ratio of 17.90, a PEG ratio of 2.52 and a beta of 0.89. 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 (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. Canadian National Railway’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. Analysts predict that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 annualized dividend and a yield of 2.19%. Canadian National Railway’s dividend payout ratio is currently 39.90%.

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.