Dillon & Associates Inc. Purchases 1,430 Shares of Canadian National Railway (NYSE:CNI)

Dillon & Associates Inc. boosted its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,401 shares of the transportation company’s stock after buying an additional 1,430 shares during the quarter. Canadian National Railway makes up approximately 1.3% of Dillon & Associates Inc.’s investment portfolio, making the stock its 26th largest position. Dillon & Associates Inc.’s holdings in Canadian National Railway were worth $9,524,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CNI. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Canadian National Railway in the 2nd quarter valued at $26,000. Addison Advisors LLC increased its position in shares of Canadian National Railway by 159.1% in the second quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC raised its stake in Canadian National Railway by 738.7% in the third 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 bought a new stake in Canadian National Railway during the second quarter worth about $34,000. Finally, Reston Wealth Management LLC acquired a new stake in Canadian National Railway during the third quarter worth about $41,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 0.1 %

NYSE:CNI opened at $111.57 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. Canadian National Railway has a one year low of $107.54 and a one year high of $134.02. The company has a market cap of $70.16 billion, a PE ratio of 17.88, a PEG ratio of 2.52 and a beta of 0.89. The firm has a 50-day moving average of $114.58 and a 200-day moving average of $118.03.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Canadian National Railway’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts expect that Canadian National Railway will post 5.49 EPS for the current fiscal 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 paid a $0.6108 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.44 annualized dividend and a dividend yield of 2.19%. Canadian National Railway’s payout ratio is presently 39.26%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of 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. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $126.00 to $130.00 in a research report on Tuesday. Susquehanna lowered their target price on Canadian National Railway from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Benchmark restated a “hold” rating on shares of Canadian National Railway in a research report on Thursday, October 24th. Finally, Stephens reissued an “equal weight” rating and set a $116.00 price objective on shares of Canadian National Railway in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $125.48.

About Canadian National Railway

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.