Jones Collombin Investment Counsel Inc lowered its stake in shares of Canadian National Railway Co. (NYSE:CNI) (TSE:CNR) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,060 shares of the company’s stock after selling 17,920 shares during the period. Canadian National Railway makes up approximately 4.1% of Jones Collombin Investment Counsel Inc’s investment portfolio, making the stock its 9th largest position. Jones Collombin Investment Counsel Inc’s holdings in Canadian National Railway were worth $13,070,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Kistler Tiffany Companies LLC increased its position in Canadian National Railway by 81.9% in the second quarter. Kistler Tiffany Companies LLC now owns 1,699 shares of the company’s stock valued at $100,000 after buying an additional 765 shares during the period. Pinkerton Retirement Specialists LLC acquired a new position in Canadian National Railway during the second quarter valued at approximately $104,000. Carroll Financial Associates Inc. increased its position in Canadian National Railway by 8.8% in the third quarter. Carroll Financial Associates Inc. now owns 1,638 shares of the company’s stock valued at $107,000 after buying an additional 132 shares during the period. Armbruster Capital Management Inc. increased its position in Canadian National Railway by 57.1% in the second quarter. Armbruster Capital Management Inc. now owns 2,200 shares of the company’s stock valued at $130,000 after buying an additional 800 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Canadian National Railway by 4.0% in the second quarter. Quadrant Capital Group LLC now owns 2,680 shares of the company’s stock valued at $149,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 54.22% of the company’s stock.

Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

Shares of Canadian National Railway Co. (NYSE:CNI) traded up 0.621% during midday trading on Wednesday, hitting $67.205. 651,764 shares of the stock were exchanged. The stock has a market cap of $51.50 billion, a P/E ratio of 20.025 and a beta of 1.00. The firm has a 50 day moving average of $64.76 and a 200-day moving average of $62.62. Canadian National Railway Co. has a 12 month low of $46.23 and a 12 month high of $67.66.

Canadian National Railway (NYSE:CNI) last released its earnings results on Tuesday, October 25th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.39 billion. Canadian National Railway had a return on equity of 23.70% and a net margin of 29.78%. Canadian National Railway’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 earnings per share. Equities research analysts anticipate that Canadian National Railway Co. will post $3.35 EPS for the current year.

The business also recently announced a dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. Canadian National Railway’s dividend payout ratio is currently 33.33%.

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Several research analysts recently commented on the stock. Seaport Global Securities assumed coverage on shares of Canadian National Railway in a report on Friday, October 28th. They issued a “neutral” rating and a $64.00 price objective for the company. TD Securities reaffirmed a “hold” rating and issued a $90.00 price objective on shares of Canadian National Railway in a report on Wednesday, October 26th. Scotiabank reaffirmed a “sector perform” rating and issued a $92.00 price objective (up from $87.00) on shares of Canadian National Railway in a report on Wednesday, October 26th. National Bank Financial reiterated a “sector perform” rating and issued a $85.00 target price (up from $84.00) on shares of Canadian National Railway in a research note on Wednesday, October 26th. Finally, Desjardins reiterated a “hold” rating and issued a $92.00 target price (up from $86.00) on shares of Canadian National Railway in a research note on Wednesday, October 26th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $75.50.

Canadian National Railway Company Profile

Canadian National Railway Co is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico. The Company’s freight includes approximately seven commodity groups, such as petroleum and chemicals, metals and minerals, forest products, coal, grain and fertilizers, intermodal and automotive.

5 Day Chart for NYSE:CNI

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