Citigroup Inc. Increases Holdings in Canadian National Railway (NYSE:CNI)

Citigroup Inc. lifted its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 114,124 shares of the transportation company’s stock after purchasing an additional 3,774 shares during the period. Citigroup Inc.’s holdings in Canadian National Railway were worth $13,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in shares of Canadian National Railway by 2.0% during the 1st quarter. Janus Henderson Group PLC now owns 82,561 shares of the transportation company’s stock valued at $10,874,000 after purchasing an additional 1,606 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in Canadian National Railway by 2.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after buying an additional 100 shares during the last quarter. Atria Investments Inc increased its holdings in Canadian National Railway by 23.1% during the first quarter. Atria Investments Inc now owns 26,435 shares of the transportation company’s stock valued at $3,482,000 after buying an additional 4,966 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Canadian National Railway by 387.4% during the 1st quarter. Cetera Investment Advisers now owns 58,815 shares of the transportation company’s stock worth $7,747,000 after acquiring an additional 46,748 shares during the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of Canadian National Railway by 42.4% during the 1st quarter. Cetera Advisors LLC now owns 10,191 shares of the transportation company’s stock worth $1,342,000 after acquiring an additional 3,032 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

NYSE:CNI opened at $111.26 on Friday. The business’s 50-day moving average is $112.50 and its 200 day moving average is $116.80. Canadian National Railway has a 12 month low of $105.28 and a 12 month high of $134.02. The company has a market capitalization of $70.07 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.48 and a beta of 0.89. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted 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 analyst estimates of $4.08 billion. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. Canadian National Railway’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. On average, equities research analysts forecast that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a $0.6108 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.20%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.90%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CNI shares. Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 target price on the stock in a report on Monday, October 7th. Stephens reaffirmed an “equal weight” rating and issued a $116.00 price objective on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Evercore ISI cut 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. Stifel Nicolaus raised their target price on shares of Canadian National Railway from $130.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price target for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $125.86.

Canadian National Railway Company 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.