Douglass Winthrop Advisors LLC Purchases 12,473 Shares of Canadian National Railway (NYSE:CNI)

Douglass Winthrop Advisors LLC grew its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.2% in the third quarter, HoldingsChannel reports. The fund owned 1,011,923 shares of the transportation company’s stock after buying an additional 12,473 shares during the period. Canadian National Railway accounts for 2.3% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 17th largest position. Douglass Winthrop Advisors LLC’s holdings in Canadian National Railway were worth $118,547,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fisher Asset Management LLC boosted its holdings in Canadian National Railway by 71.4% in the 3rd quarter. Fisher Asset Management LLC now owns 3,135 shares of the transportation company’s stock valued at $367,000 after purchasing an additional 1,306 shares during the period. Cerity Partners LLC raised its position in shares of Canadian National Railway by 25.1% in the third quarter. Cerity Partners LLC now owns 123,445 shares of the transportation company’s stock valued at $14,462,000 after buying an additional 24,753 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Canadian National Railway in the third quarter valued at approximately $856,000. Citigroup Inc. grew its position in Canadian National Railway by 3.4% during the third quarter. Citigroup Inc. now owns 114,124 shares of the transportation company’s stock worth $13,379,000 after buying an additional 3,774 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new position in Canadian National Railway during the 3rd quarter worth $261,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Susquehanna decreased their price target on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. 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 report on Tuesday, November 12th. Sanford C. Bernstein decreased their price objective 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. Finally, Stifel Nicolaus upped their target price on Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Canadian National Railway currently has an average rating of “Hold” and a consensus price target of $125.48.

Canadian National Railway Trading Up 1.9 %

Shares of NYSE CNI opened at $111.24 on Monday. Canadian National Railway has a 52-week low of $105.28 and a 52-week high of $134.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The stock has a market cap of $70.06 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89. The firm has a 50 day moving average price of $113.14 and a two-hundred day moving average price of $117.11.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) 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 23.62%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter in the previous year, the business earned $1.26 earnings per share. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities analysts forecast that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The business 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 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s payout ratio is 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.