Principal Financial Group Inc. Purchases 21,100 Shares of Canadian National Railway (NYSE:CNI)

Principal Financial Group Inc. grew its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 29.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,300 shares of the transportation company’s stock after buying an additional 21,100 shares during the period. Principal Financial Group Inc.’s holdings in Canadian National Railway were worth $10,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Addison Advisors LLC lifted its holdings in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of Canadian National Railway by 738.7% during the third quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 229 shares in the last quarter. Coastline Trust Co purchased a new position in shares of Canadian National Railway in the 3rd quarter valued at approximately $34,000. Reston Wealth Management LLC acquired a new stake in Canadian National Railway in the 3rd quarter worth approximately $41,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Canadian National Railway during the 3rd quarter worth approximately $56,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Down 0.7 %

Shares of NYSE:CNI opened at $101.97 on Monday. Canadian National Railway has a 52-week low of $99.90 and a 52-week high of $134.02. The stock has a market cap of $64.15 billion, a P/E ratio of 16.34, a PEG ratio of 2.43 and a beta of 0.89. The business has a fifty day moving average of $108.11 and a two-hundred day moving average of $113.61. 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 released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the business posted $1.26 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. On average, research analysts expect that Canadian National Railway will post 5.31 earnings per share 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 given a $0.6108 dividend. This represents a $2.44 annualized dividend and a yield of 2.40%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 38.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CNI shares. The Goldman Sachs Group dropped 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 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. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. 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. Finally, Susquehanna decreased their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $125.86.

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.