Northern Trust Corp Sells 38,227 Shares of Canadian National Railway (CNI)

Northern Trust Corp lessened its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 995,906 shares of the transportation company’s stock after selling 38,227 shares during the period. Northern Trust Corp’s holdings in Canadian National Railway were worth $73,807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc increased its position in Canadian National Railway by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 19,024,269 shares of the transportation company’s stock worth $1,708,379,000 after purchasing an additional 497,662 shares during the period. TD Asset Management Inc. increased its position in Canadian National Railway by 1.3% during the 4th quarter. TD Asset Management Inc. now owns 16,419,347 shares of the transportation company’s stock worth $1,215,522,000 after purchasing an additional 217,901 shares during the period. FIL Ltd increased its position in Canadian National Railway by 3.1% during the 3rd quarter. FIL Ltd now owns 12,279,583 shares of the transportation company’s stock worth $1,101,850,000 after purchasing an additional 372,297 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Canadian National Railway by 8.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,024,202 shares of the transportation company’s stock worth $719,484,000 after purchasing an additional 628,194 shares during the period. Finally, Mackenzie Financial Corp increased its position in Canadian National Railway by 29.2% during the 4th quarter. Mackenzie Financial Corp now owns 6,642,677 shares of the transportation company’s stock worth $492,289,000 after purchasing an additional 1,500,861 shares during the period. Hedge funds and other institutional investors own 54.40% of the company’s stock.

Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research report on Monday, November 19th. Credit Suisse Group upgraded Canadian National Railway from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $90.00 to $95.00 in a research report on Tuesday, January 15th. Raymond James reiterated a “buy” rating on shares of Canadian National Railway in a research report on Tuesday, December 11th. Macquarie cut Canadian National Railway from an “outperform” rating to a “neutral” rating in a research report on Wednesday, January 30th. Finally, Stephens upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating in a research report on Thursday, January 3rd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Canadian National Railway currently has a consensus rating of “Hold” and a consensus target price of $92.16.

Shares of Canadian National Railway stock opened at $87.59 on Friday. Canadian National Railway has a fifty-two week low of $70.36 and a fifty-two week high of $91.90. The firm has a market cap of $63.50 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.62 and a current ratio of 0.78.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, January 29th. The transportation company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.38. Canadian National Railway had a return on equity of 23.28% and a net margin of 30.19%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the prior year, the company posted $1.20 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. Analysts expect that Canadian National Railway will post 4.74 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be issued a dividend of $0.4026 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.84%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, March 7th. Canadian National Railway’s dividend payout ratio is presently 39.18%.

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Canadian National Railway Profile

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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