Connor Clark & Lunn Investment Management Ltd. Purchases 202,303 Shares of Canadian National Railway (NYSE:CNI)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.4% in the third quarter, HoldingsChannel reports. The firm owned 3,962,972 shares of the transportation company’s stock after acquiring an additional 202,303 shares during the period. Canadian National Railway makes up 2.2% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 6th biggest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Canadian National Railway were worth $464,002,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CNI. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Canadian National Railway during the 2nd quarter worth $26,000. Addison Advisors LLC increased its holdings in Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares in the last quarter. Fortitude Family Office LLC raised its position in Canadian National Railway by 738.7% in 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 during the last quarter. ORG Partners LLC acquired a new stake in shares of Canadian National Railway in the second quarter valued at approximately $34,000. Finally, Coastline Trust Co acquired a new position in shares of Canadian National Railway during the 3rd quarter worth about $34,000. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Performance

NYSE:CNI opened at $106.81 on Wednesday. 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 has a twelve month low of $106.40 and a twelve month high of $134.02. The company has a fifty day moving average of $113.69 and a 200-day moving average of $117.47. The firm has a market capitalization of $67.27 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.45 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 EPS. As a group, sell-side analysts anticipate that Canadian National Railway will post 5.49 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. Shareholders of record on Monday, December 9th will be paid a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein lowered 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 note on Wednesday, October 9th. Barclays increased their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target for the company in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.