Koshinski Asset Management Inc. Cuts Holdings in Canadian National Railway (NYSE:CNI)

Koshinski Asset Management Inc. trimmed its holdings in shares of Canadian National Railway (NYSE:CNIGet Rating) (TSE:CNR) by 4.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,722 shares of the transportation company’s stock after selling 220 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Canadian National Railway were worth $531,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CNI. Wellington Management Group LLP grew its holdings in Canadian National Railway by 41.4% in the first quarter. Wellington Management Group LLP now owns 20,888,814 shares of the transportation company’s stock worth $2,804,457,000 after purchasing an additional 6,120,667 shares during the last quarter. Norges Bank purchased a new position in Canadian National Railway in the fourth quarter worth $654,343,000. Goldman Sachs Group Inc. grew its holdings in Canadian National Railway by 127.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,147,685 shares of the transportation company’s stock worth $632,445,000 after purchasing an additional 2,884,391 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Canadian National Railway by 34.4% in the first quarter. Mackenzie Financial Corp now owns 10,912,725 shares of the transportation company’s stock worth $1,466,162,000 after purchasing an additional 2,796,065 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Canadian National Railway by 19.7% in the first quarter. Bank of New York Mellon Corp now owns 14,423,818 shares of the transportation company’s stock worth $1,934,812,000 after purchasing an additional 2,376,082 shares during the last quarter. 79.45% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Trading Down 0.6 %

Shares of Canadian National Railway stock opened at $113.81 on Friday. The firm has a 50-day simple moving average of $121.45 and a two-hundred day simple moving average of $119.91. The company has a market cap of $77.63 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 1.73 and a beta of 0.86. Canadian National Railway has a fifty-two week low of $106.61 and a fifty-two week high of $137.19. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.55 and a current ratio of 0.71.

Canadian National Railway (NYSE:CNIGet Rating) (TSE:CNR) last issued its quarterly earnings data on Tuesday, July 26th. The transportation company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.14. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.17 billion. Canadian National Railway had a net margin of 33.32% and a return on equity of 20.63%. As a group, equities analysts predict that Canadian National Railway will post 5.79 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 8th will be given a dividend of $0.569 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.28 annualized dividend and a dividend yield of 2.00%. Canadian National Railway’s dividend payout ratio (DPR) is presently 38.78%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CNI. Barclays cut their price target on shares of Canadian National Railway from $120.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 12th. CIBC raised shares of Canadian National Railway from a “neutral” rating to a “sector outperform” rating in a report on Thursday, June 2nd. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $128.00 to $135.00 in a report on Monday, September 12th. Susquehanna Bancshares dropped their price objective on shares of Canadian National Railway from $137.00 to $127.00 in a report on Wednesday, July 6th. Finally, Scotiabank boosted their price objective on shares of Canadian National Railway from C$150.00 to C$152.00 in a report on Wednesday, July 27th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Canadian National Railway has an average rating of “Hold” and a consensus target price of $142.58.

Canadian National Railway Profile

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Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation business. The company's portfolio of goods includes petroleum and chemicals, grain and fertilizers, coal, metals and minerals, forest products, intermodal, and automotive products serving exporters, importers, retailers, farmers, and manufacturers.

Further Reading

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

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