Commerce Bank Grows Stake in Canadian National Railway (NYSE:CNI)

Commerce Bank boosted its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 8.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,278 shares of the transportation company’s stock after purchasing an additional 431 shares during the quarter. Commerce Bank’s holdings in Canadian National Railway were worth $618,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Canadian National Railway by 4,614.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock worth $157,896,000 after buying an additional 1,307,689 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Canadian National Railway in the second quarter valued at about $134,096,000. 1832 Asset Management L.P. lifted its holdings in shares of Canadian National Railway by 7.8% in the second quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after purchasing an additional 674,536 shares in the last quarter. Fiera Capital Corp increased its stake in shares of Canadian National Railway by 13.3% during the 2nd quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock worth $643,503,000 after purchasing an additional 638,817 shares in the last quarter. Finally, Ninety One UK Ltd raised its position in shares of Canadian National Railway by 125.9% during the 2nd quarter. Ninety One UK Ltd now owns 1,096,901 shares of the transportation company’s stock worth $129,590,000 after purchasing an additional 611,252 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Performance

NYSE CNI opened at $111.74 on Tuesday. The business’s 50-day simple moving average is $112.96 and its 200-day simple moving average is $117.00. The firm has a market capitalization of $70.37 billion, a P/E ratio of 17.91, a P/E/G ratio of 2.51 and a beta of 0.89. Canadian National Railway has a 1-year low of $105.28 and a 1-year high of $134.02. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49.

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, topping 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 company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts predict that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed 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 2.19%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Analysts Set New Price Targets

A number of brokerages have commented on CNI. Bank of America cut Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their target price for the company from $129.00 to $122.00 in a report on Friday, October 4th. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. Susquehanna reduced their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Finally, Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus target price of $125.48.

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.