Janney Montgomery Scott LLC Boosts Holdings in Canadian National Railway (NYSE:CNI)

Janney Montgomery Scott LLC raised its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 128,771 shares of the transportation company’s stock after acquiring an additional 5,301 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Canadian National Railway were worth $15,086,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CNI. Private Advisor Group LLC increased its stake in shares of Canadian National Railway by 19.4% during the first quarter. Private Advisor Group LLC now owns 10,263 shares of the transportation company’s stock worth $1,352,000 after acquiring an additional 1,671 shares during the period. Daiwa Securities Group Inc. acquired a new position in Canadian National Railway during the 1st quarter worth approximately $64,000. Jennison Associates LLC raised its stake in shares of Canadian National Railway by 22.6% during the 1st quarter. Jennison Associates LLC now owns 141,943 shares of the transportation company’s stock worth $18,695,000 after buying an additional 26,204 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Canadian National Railway by 7.8% in the 1st quarter. Whittier Trust Co. now owns 3,768 shares of the transportation company’s stock valued at $496,000 after buying an additional 273 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Canadian National Railway in the first quarter valued at approximately $4,451,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup raised their target price on Canadian National Railway from $125.00 to $126.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Susquehanna decreased their price objective 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 report on Thursday, October 24th. Sanford C. Bernstein decreased their price target on Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research note on Wednesday, October 9th. Finally, Evercore ISI dropped their price objective on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating for the company in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Canadian National Railway currently has an average rating of “Hold” and an average target price of $125.18.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $109.07 on Wednesday. The company has a market cap of $68.58 billion, a P/E ratio of 17.48, a P/E/G ratio of 2.43 and a beta of 0.89. The business has a fifty day simple moving average of $115.02 and a 200-day simple moving average of $118.44. Canadian National Railway has a 52 week low of $107.54 and a 52 week high of $134.02. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $1.26 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Canadian National Railway will post 5.54 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. Stockholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.24%. Canadian National Railway’s dividend payout ratio is presently 39.26%.

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.