Pembroke Management LTD Purchases 1,473 Shares of Canadian National Railway (NYSE:CNI)

Pembroke Management LTD grew its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 36.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,493 shares of the transportation company’s stock after purchasing an additional 1,473 shares during the quarter. Pembroke Management LTD’s holdings in Canadian National Railway were worth $644,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CNI. 1832 Asset Management L.P. grew its position in Canadian National Railway by 7.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock worth $1,106,361,000 after purchasing an additional 674,536 shares during the last quarter. Capital International Investors grew its position in Canadian National Railway by 18.1% during the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock worth $1,185,647,000 after buying an additional 1,379,976 shares in the last quarter. JARISLOWSKY FRASER Ltd increased its stake in Canadian National Railway by 1.2% during the second quarter. JARISLOWSKY FRASER Ltd now owns 8,610,928 shares of the transportation company’s stock valued at $1,017,315,000 after acquiring an additional 99,716 shares during the period. Fiera Capital Corp raised its holdings in Canadian National Railway by 13.3% in the 2nd quarter. Fiera Capital Corp now owns 5,443,461 shares of the transportation company’s stock valued at $643,503,000 after acquiring an additional 638,817 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Canadian National Railway by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,836,345 shares of the transportation company’s stock worth $570,667,000 after acquiring an additional 120,453 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CNI has been the topic of a number of research reports. Bank of America cut Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $129.00 to $122.00 in a research report on Friday, October 4th. Barclays boosted their price target on shares of Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Royal Bank of Canada raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Thursday, October 24th. Finally, Susquehanna cut their price target 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, fifteen have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $125.18.

Canadian National Railway Stock Performance

Canadian National Railway stock opened at $108.21 on Friday. Canadian National Railway has a 12-month low of $107.56 and a 12-month high of $134.02. The stock has a 50-day simple moving average of $115.40 and a 200 day simple moving average of $118.76. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $68.04 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 2.42 and a beta of 0.89.

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 for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. On average, research analysts anticipate that Canadian National Railway will post 5.54 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.26%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio is 39.90%.

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.