Advisors Asset Management Inc. Purchases 2,845 Shares of Canadian National Railway (NYSE:CNI)

Advisors Asset Management Inc. increased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 41.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,644 shares of the transportation company’s stock after buying an additional 2,845 shares during the quarter. Advisors Asset Management Inc.’s holdings in Canadian National Railway were worth $1,130,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Canadian National Railway during the second quarter worth approximately $26,000. Addison Advisors LLC increased its stake in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 148 shares in the last quarter. Fortitude Family Office LLC increased its stake in Canadian National Railway by 738.7% during the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 229 shares in the last quarter. ORG Partners LLC acquired a new position in Canadian National Railway during the second quarter worth $34,000. Finally, Coastline Trust Co bought a new position in shares of Canadian National Railway in the third quarter valued at $34,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

CNI opened at $111.74 on Tuesday. Canadian National Railway has a fifty-two week low of $105.28 and a fifty-two week high of $134.02. The firm has a 50-day moving average of $112.96 and a 200 day moving average of $117.00. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The firm has a market cap of $70.37 billion, a P/E ratio of 17.91, a PEG ratio of 2.51 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 EPS. On average, research analysts expect that Canadian National Railway will post 5.49 EPS for the current year.

Canadian National Railway Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio is currently 39.26%.

Analysts Set New Price Targets

CNI has been the subject of several recent research reports. Susquehanna decreased their target price on shares of Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Bank of America lowered Canadian National Railway from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $129.00 to $122.00 in a report on Friday, October 4th. Stephens restated an “equal weight” rating and issued a $116.00 target price on shares of Canadian National Railway in a report on Wednesday, October 23rd. Barclays upped their price target on Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Benchmark restated a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.48.

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.