254,972 Canadian National Railway Company $CNI Shares Sold by Beutel Goodman & Co Ltd.

Key Points

• Beutel Goodman cut its Canadian National Railway stake by 12.1%, selling 254,972 shares in the third quarter. It retained 1.85 million shares, valued at about $220.8 million.
• CN beat quarterly estimates, reporting adjusted earnings of $1.54 per share versus the $1.49 consensus and revenue of $3.35 billion versus $3.27 billion. Earnings were lower than the year-earlier quarter.
• Analyst views are mixed: nine rate the stock Buy and ten Hold, with a consensus target price of $138.76. CN also announced a quarterly dividend of C$0.92 per share, an annualized yield of about 2.9%.

Beutel Goodman & Co Ltd. lowered its position in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 12.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,850,164 shares of the transportation company's stock after selling 254,972 shares during the period. Canadian National Railway makes up about 1.7% of Beutel Goodman & Co Ltd.'s investment portfolio, making the stock its 25th largest position. Beutel Goodman & Co Ltd. owned approximately 0.31% of Canadian National Railway worth $220,755,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. OMERS ADMINISTRATION Corp purchased a new position in shares of Canadian National Railway in the first quarter valued at $59,507,000. Bank of New York Mellon Corp acquired a new stake in Canadian National Railway during the 2nd quarter valued at $65,922,000. Swiss National Bank increased its stake in Canadian National Railway by 26.3% during the 1st quarter. Swiss National Bank now owns 1,761,000 shares of the transportation company's stock worth $180,986,000 after buying an additional 367,100 shares during the period. TD Waterhouse Canada Inc. increased its stake in Canadian National Railway by 5.8% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 4,546,356 shares of the transportation company's stock worth $532,519,000 after buying an additional 248,401 shares during the period. Finally, Ninepoint Partners LP purchased a new stake in Canadian National Railway during the 2nd quarter worth $27,933,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNI. Citizens Jmp began coverage on shares of Canadian National Railway in a report on Wednesday, July 15th. They issued a "market perform" rating on the stock. Weiss Ratings upgraded Canadian National Railway from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Citigroup lifted their target price on Canadian National Railway from $143.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, November 2nd. Bank of America dropped their target price on Canadian National Railway from $146.00 to $143.00 and set a "buy" rating on the stock in a research report on Wednesday, September 23rd. Finally, Argus reiterated a "hold" rating on shares of Canadian National Railway in a research note on Monday, August 31st. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $138.76.

Canadian National Railway Stock Up 2.4%

CNI stock opened at $127.05 on Tuesday. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $131.55. The company has a current ratio of 0.82, a quick ratio of 0.61 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $76.55 billion, a P/E ratio of 22.13, a PEG ratio of 2.36 and a beta of 0.90. The firm has a 50 day simple moving average of $121.60 and a 200-day simple moving average of $116.19.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its quarterly earnings results on Friday, October 30th. The transportation company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.49 by $0.05. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.27 billion. Canadian National Railway had a net margin of 26.42% and a return on equity of 22.82%. The business's revenue was down 99.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 earnings per share. On average, equities research analysts predict that Canadian National Railway Company will post 5.85 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 9th will be paid a dividend of C$0.92 per share. This represents a $3.66 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Wednesday, December 9th. Canadian National Railway's dividend payout ratio is 45.30%.

About Canadian National Railway

Canadian National Railway, commonly known as CN, is a North American transportation and logistics company that operates a freight rail network connecting Canada's Atlantic, Pacific and Gulf coasts with the United States. Its network serves customers across Canada and the U.S. Midwest and South.

CN transports a range of commodities and manufactured goods, including intermodal shipments, grain and fertilizers, petroleum and chemicals, forest products, metals and minerals, and finished vehicles.

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