First Long Island Investors LLC Takes $15.02 Million Position in Canadian National Railway (NYSE:CNI)

First Long Island Investors LLC bought a new position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) in the third quarter, HoldingsChannel reports. The firm bought 128,199 shares of the transportation company’s stock, valued at approximately $15,019,000.

Other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Canadian National Railway during the second 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 increased its holdings 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 worth $30,000 after purchasing an additional 229 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Canadian National Railway in the 2nd quarter valued at about $34,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Canadian National Railway in the third quarter valued at about $41,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $129.00 to $122.00 in a research report on Friday, October 4th. Royal Bank of Canada raised Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. The Goldman Sachs Group decreased their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Evercore ISI lowered their target price on Canadian National Railway from $119.00 to $116.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 23rd. Finally, Susquehanna dropped their price objective on shares of 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. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Canadian National Railway presently has a consensus rating of “Hold” and an average price target of $125.48.

Canadian National Railway Price Performance

Canadian National Railway stock traded down $0.74 during mid-day trading on Friday, reaching $109.31. The company had a trading volume of 315,331 shares, compared to its average volume of 1,111,786. The business has a fifty day simple moving average of $114.17 and a 200 day simple moving average of $117.83. The company has a market cap of $68.73 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.52 and a beta of 0.89. Canadian National Railway has a fifty-two week low of $107.54 and a fifty-two week high of $134.02. 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 released its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share 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 the consensus estimate of $4.08 billion. During the same quarter last year, the business posted $1.26 EPS. Canadian National Railway’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, equities research analysts predict that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.26%.

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.