BNP Paribas Financial Markets Purchases 28,517 Shares of Canadian National Railway (NYSE:CNI)

BNP Paribas Financial Markets grew its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 32.3% in the third quarter, Holdings Channel reports. The fund owned 116,781 shares of the transportation company’s stock after buying an additional 28,517 shares during the quarter. BNP Paribas Financial Markets’ holdings in Canadian National Railway were worth $13,681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNI. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Canadian National Railway during the second quarter valued at $26,000. Addison Advisors LLC increased its holdings in shares of Canadian National Railway by 159.1% in the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after buying an additional 148 shares during the last quarter. Fortitude Family Office LLC raised its position in shares of 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 buying an additional 229 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Canadian National Railway during the 2nd quarter valued at about $34,000. Finally, Coastline Trust Co bought a new position in shares of Canadian National Railway in the 3rd quarter valued at about $34,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

CNI opened at $111.69 on Monday. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The business’s fifty day simple moving average is $112.39 and its 200-day simple moving average is $116.57. The company has a market capitalization of $70.34 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.52 and a beta of 0.89. Canadian National Railway has a 12-month low of $105.28 and a 12-month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the prior year, the business earned $1.26 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $0.6108 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is 39.90%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CNI shares. The Goldman Sachs Group decreased their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Barclays increased their price target on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Bank of America lowered shares of Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $129.00 to $122.00 in a research note on Friday, October 4th. Sanford C. Bernstein cut their price objective on shares of Canadian National Railway from $130.67 to $126.29 and set a “market perform” rating on the stock in a research report on Wednesday, October 9th. Finally, Veritas raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway presently has a consensus rating of “Hold” and a consensus target price of $125.86.

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.