State Street Corp Sells 17,300 Shares of Canadian National Railway (NYSE:CNI)

State Street Corp lessened its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 310,572 shares of the transportation company’s stock after selling 17,300 shares during the period. State Street Corp’s holdings in Canadian National Railway were worth $36,384,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in shares of Canadian National Railway by 29.6% in the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock worth $10,820,000 after purchasing an additional 21,100 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Canadian National Railway by 5.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after buying an additional 202,303 shares during the period. Partners Group Holding AG increased its stake in shares of Canadian National Railway by 16.3% in the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock worth $47,571,000 after buying an additional 56,849 shares during the period. Sterling Investment Management LLC grew its stake in shares of Canadian National Railway by 17.2% in the third quarter. Sterling Investment Management LLC now owns 36,279 shares of the transportation company’s stock worth $4,250,000 after purchasing an additional 5,329 shares during the last quarter. Finally, Summit Global Investments bought a new stake in Canadian National Railway in the third quarter valued at $636,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNI has been the topic of several research reports. Stephens restated an “equal weight” rating and set a $116.00 price target on shares of Canadian National Railway in a research report on Wednesday, October 23rd. Evercore ISI decreased their price objective on shares of Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a report on Wednesday, October 23rd. Sanford C. Bernstein cut their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating for the company in a research report on Wednesday, October 9th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Finally, Stifel Nicolaus boosted their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $125.86.

Canadian National Railway Stock Performance

CNI stock opened at $101.17 on Friday. The firm has a market cap of $63.65 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.43 and a beta of 0.89. The business’s fifty day simple moving average is $109.36 and its two-hundred day simple moving average is $114.54. Canadian National Railway has a twelve month low of $99.90 and a twelve month high of $134.02. 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 data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. Analysts predict that Canadian National Railway will post 5.31 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a yield of 2.41%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 38.14%.

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.