Scheer Rowlett & Associates Investment Management Ltd. reduced its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,107,774 shares of the transportation company’s stock after selling 29,009 shares during the quarter. Canadian National Railway makes up about 6.3% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, making the stock its 5th biggest holding. Scheer Rowlett & Associates Investment Management Ltd. owned 0.15% of Canadian National Railway worth $99,328,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Advisor Partners LLC boosted its stake in shares of Canadian National Railway by 17.4% during the 3rd quarter. Advisor Partners LLC now owns 3,998 shares of the transportation company’s stock worth $359,000 after acquiring an additional 593 shares during the period. Baskin Financial Services Inc. boosted its stake in Canadian National Railway by 6.5% in the 3rd quarter. Baskin Financial Services Inc. now owns 10,722 shares of the transportation company’s stock valued at $961,000 after purchasing an additional 650 shares during the period. Janney Montgomery Scott LLC boosted its stake in Canadian National Railway by 0.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 107,509 shares of the transportation company’s stock valued at $9,654,000 after purchasing an additional 660 shares during the period. Gluskin Sheff & Assoc Inc. boosted its stake in Canadian National Railway by 4.4% in the 3rd quarter. Gluskin Sheff & Assoc Inc. now owns 15,912 shares of the transportation company’s stock valued at $1,428,000 after purchasing an additional 670 shares during the period. Finally, SRS Capital Advisors Inc. boosted its stake in Canadian National Railway by 30.8% in the 2nd quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the transportation company’s stock valued at $239,000 after purchasing an additional 690 shares during the period. Institutional investors own 54.24% of the company’s stock.

Several analysts recently issued reports on CNI shares. Deutsche Bank boosted their price target on Canadian National Railway from $96.00 to $101.00 and gave the company a “buy” rating in a research note on Monday. Zacks Investment Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Monday, November 19th. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Tuesday, September 25th. Barclays restated a “hold” rating and issued a $88.00 price target on shares of Canadian National Railway in a research note on Wednesday, September 26th. Finally, BMO Capital Markets downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 5th. They noted that the move was a valuation call. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Canadian National Railway has an average rating of “Hold” and a consensus target price of $92.07.

CNI traded down $1.16 during trading on Thursday, hitting $80.90. The stock had a trading volume of 241,062 shares, compared to its average volume of 991,985. The company has a market capitalization of $59.87 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.72 and a quick ratio of 0.58. Canadian National Railway has a one year low of $70.59 and a one year high of $91.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Tuesday, October 23rd. The transportation company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.38. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Canadian National Railway had a return on equity of 22.67% and a net margin of 42.06%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 EPS. Equities analysts anticipate that Canadian National Railway will post 4.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 7th will be issued a $0.3477 dividend. The ex-dividend date is Thursday, December 6th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.34. This represents a $1.39 annualized dividend and a yield of 1.72%. Canadian National Railway’s payout ratio is currently 35.94%.

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About Canadian National Railway

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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