Palladium Partners LLC Trims Holdings in Canadian National Railway (CNI)

Palladium Partners LLC trimmed its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.7% during the third quarter, HoldingsChannel reports. The firm owned 90,752 shares of the transportation company’s stock after selling 679 shares during the period. Palladium Partners LLC’s holdings in Canadian National Railway were worth $8,150,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CNI. Bank of Nova Scotia grew its position in shares of Canadian National Railway by 4.5% in the 2nd quarter. Bank of Nova Scotia now owns 2,741,220 shares of the transportation company’s stock valued at $223,356,000 after buying an additional 117,340 shares during the last quarter. Douglass Winthrop Advisors LLC grew its position in Canadian National Railway by 1.5% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 568,985 shares of the transportation company’s stock worth $51,095,000 after purchasing an additional 8,683 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in Canadian National Railway by 259.6% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 238,557 shares of the transportation company’s stock worth $19,513,000 after purchasing an additional 172,221 shares during the last quarter. Bridgewater Associates LP grew its position in Canadian National Railway by 271.9% during the 2nd quarter. Bridgewater Associates LP now owns 301,682 shares of the transportation company’s stock worth $24,661,000 after purchasing an additional 220,570 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Canadian National Railway by 108.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 31,279 shares of the transportation company’s stock worth $1,999,000 after purchasing an additional 16,239 shares during the last quarter. Institutional investors and hedge funds own 54.15% of the company’s stock.

CNI has been the topic of several research reports. Bank of America downgraded shares of Canadian National Railway from a “buy” rating to a “neutral” rating in a research report on Thursday, October 18th. Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Tuesday, September 25th. Zacks Investment Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Wednesday, October 10th. Deutsche Bank raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and raised their price objective for the stock from $81.00 to $95.00 in a research report on Monday, July 9th. Finally, BMO Capital Markets downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $92.07.

Shares of NYSE:CNI traded up $1.85 during midday trading on Tuesday, hitting $83.93. The stock had a trading volume of 11,417 shares, compared to its average volume of 1,629,747. The company has a market cap of $59.83 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 2.11 and a beta of 1.03. The company has a quick ratio of 0.58, a current ratio of 0.72 and a debt-to-equity ratio of 0.57. Canadian National Railway has a 1 year low of $70.59 and a 1 year high of $91.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results 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 business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.58 billion. Canadian National Railway had a net margin of 42.06% and a return on equity of 22.67%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 earnings per share. On average, research analysts forecast that Canadian National Railway will post 4.18 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be issued a $0.3477 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.39 annualized dividend and a dividend yield of 1.66%. Canadian National Railway’s payout ratio is presently 35.94%.

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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