Dynamic Technology Lab Private Ltd Sells 13,219 Shares of Canadian National Railway (NYSE:CNI)

Dynamic Technology Lab Private Ltd reduced its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 74.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,449 shares of the transportation company’s stock after selling 13,219 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Canadian National Railway were worth $521,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Douglass Winthrop Advisors LLC raised its stake in Canadian National Railway by 1.2% during the third quarter. Douglass Winthrop Advisors LLC now owns 1,011,923 shares of the transportation company’s stock worth $118,547,000 after acquiring an additional 12,473 shares in the last quarter. Fisher Asset Management LLC raised its stake in Canadian National Railway by 71.4% during the third quarter. Fisher Asset Management LLC now owns 3,135 shares of the transportation company’s stock worth $367,000 after acquiring an additional 1,306 shares in the last quarter. Cerity Partners LLC raised its stake in Canadian National Railway by 25.1% during the third quarter. Cerity Partners LLC now owns 123,445 shares of the transportation company’s stock worth $14,462,000 after acquiring an additional 24,753 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in Canadian National Railway during the third quarter worth $856,000. Finally, Citigroup Inc. raised its stake in Canadian National Railway by 3.4% during the third quarter. Citigroup Inc. now owns 114,124 shares of the transportation company’s stock worth $13,379,000 after acquiring an additional 3,774 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $111.65 on Friday. The business’s 50-day simple moving average is $112.39 and its 200 day simple moving average is $116.70. The stock has a market cap of $70.31 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 2.51 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. 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 (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 analysts’ consensus estimates 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 firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the business earned $1.26 earnings per share. The company’s revenue was up 3.1% compared to the same quarter last year. As a group, research analysts anticipate that Canadian National Railway will post 5.49 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.26%.

Analysts Set New Price Targets

Several research firms have issued reports on CNI. Veritas upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 23rd. Bank of America lowered Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their target price for the company from $129.00 to $122.00 in a research note on Friday, October 4th. Citigroup upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and raised their target price for the company from $126.00 to $130.00 in a research note on Tuesday, November 12th. Barclays raised their target price on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, 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. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $125.86.

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.