Acadian Asset Management LLC Lowers Position in Canadian National Railway Company $CNI

Acadian Asset Management LLC lessened its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 46.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,500 shares of the transportation company's stock after selling 10,100 shares during the period. Acadian Asset Management LLC's holdings in Canadian National Railway were worth $1,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Dagco Inc. acquired a new position in Canadian National Railway in the first quarter valued at $32,000. Bruce G. Allen Investments LLC boosted its holdings in Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company's stock valued at $34,000 after purchasing an additional 106 shares during the last quarter. CX Institutional acquired a new stake in Canadian National Railway during the first quarter valued at approximately $39,000. Brooklyn Investment Group raised its stake in Canadian National Railway by 354.3% during the first quarter. Brooklyn Investment Group now owns 427 shares of the transportation company's stock valued at $42,000 after buying an additional 333 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Canadian National Railway by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company's stock worth $70,000 after purchasing an additional 171 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on CNI. Citigroup reduced their target price on Canadian National Railway from $124.00 to $123.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Argus raised Canadian National Railway to a "hold" rating in a report on Friday, June 27th. National Bank Financial downgraded Canadian National Railway from an "outperform" rating to a "sector perform" rating in a report on Wednesday, July 23rd. Evercore ISI cut shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price objective for the company. in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. restated a "neutral" rating on shares of Canadian National Railway in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $118.36.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $94.63 on Thursday. The firm has a market capitalization of $58.74 billion, a P/E ratio of 18.20, a PEG ratio of 2.20 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. Canadian National Railway Company has a one year low of $91.07 and a one year high of $119.61. The company's fifty day moving average is $96.12 and its two-hundred day moving average is $99.41.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The firm had revenue of $3.14 billion for the quarter, compared to analysts' expectations of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 EPS. Analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 8th will be issued a $0.6507 dividend. This is an increase from Canadian National Railway's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, September 8th. This represents a $2.60 dividend on an annualized basis and a yield of 2.8%. Canadian National Railway's payout ratio is 50.19%.

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.

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