JARISLOWSKY FRASER Ltd Sells 370,454 Shares of Canadian National Railway Company $CNI

JARISLOWSKY FRASER Ltd trimmed its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 4.0% during the third quarter, HoldingsChannel.com reports. The fund owned 8,871,249 shares of the transportation company’s stock after selling 370,454 shares during the quarter. Canadian National Railway accounts for about 4.6% of JARISLOWSKY FRASER Ltd’s holdings, making the stock its 3rd largest position. JARISLOWSKY FRASER Ltd’s holdings in Canadian National Railway were worth $836,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNI. Norges Bank bought a new stake in shares of Canadian National Railway in the 2nd quarter worth about $591,904,000. Kingstone Capital Partners Texas LLC acquired a new position in Canadian National Railway in the second quarter valued at about $310,489,000. Fisher Asset Management LLC bought a new stake in Canadian National Railway during the second quarter worth about $189,748,000. The Manufacturers Life Insurance Company increased its holdings in shares of Canadian National Railway by 26.6% during the second quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock worth $695,048,000 after buying an additional 1,408,978 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Canadian National Railway by 20.1% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock worth $655,768,000 after buying an additional 1,051,977 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Trading Up 1.4%

CNI stock opened at $100.21 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.60 and a debt-to-equity ratio of 0.92. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $108.75. The company has a market cap of $61.67 billion, a P/E ratio of 19.02, a PEG ratio of 2.05 and a beta of 0.96. The business has a fifty day moving average of $96.44 and a 200-day moving average of $96.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.05. Canadian National Railway had a return on equity of 21.50% and a net margin of 26.86%.The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the business earned $1.72 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 9th were issued a dividend of $0.8875 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $3.55 dividend on an annualized basis and a yield of 3.5%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.65. Canadian National Railway’s dividend payout ratio (DPR) is presently 48.01%.

Analyst Upgrades and Downgrades

CNI has been the topic of a number of research analyst reports. Cibc Captl Mkts upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Zacks Research raised Canadian National Railway from a “strong sell” rating to a “hold” rating in a research note on Friday, November 28th. CIBC upgraded Canadian National Railway from a “neutral” rating to an “outperformer” rating and raised their target price for the company from $146.00 to $151.00 in a research note on Friday, November 28th. Barclays cut their price target on Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a report on Thursday, October 2nd. Finally, Bank of America decreased their price objective on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating on the stock in a report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $117.36.

Canadian National Railway Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.