Great Lakes Advisors LLC trimmed its position in Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) by 20.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 236,553 shares of the transportation company’s stock after selling 58,963 shares during the period. Great Lakes Advisors LLC’s holdings in Canadian National Railway were worth $28,639,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Canadian National Railway in the fourth quarter worth $727,713,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Canadian National Railway by 25,348.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,650,355 shares of the transportation company’s stock worth $194,698,000 after buying an additional 1,643,870 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Canadian National Railway in the first quarter worth $137,546,000. Goldman Sachs Group Inc. raised its holdings in shares of Canadian National Railway by 166.7% in the second quarter. Goldman Sachs Group Inc. now owns 1,772,695 shares of the transportation company’s stock worth $199,375,000 after buying an additional 1,108,104 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. raised its holdings in shares of Canadian National Railway by 98.5% in the second quarter. Montrusco Bolton Investments Inc. now owns 1,963,411 shares of the transportation company’s stock worth $238,028,000 after buying an additional 974,096 shares during the last quarter. 67.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Susquehanna raised their price target on shares of Canadian National Railway from $112.00 to $115.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Stephens reduced their target price on shares of Canadian National Railway from $124.00 to $122.00 in a report on Wednesday, July 26th. CIBC reduced their target price on shares of Canadian National Railway from C$175.00 to C$173.00 and set an “outperformer” rating for the company in a report on Thursday, September 21st. Argus cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Scotiabank reduced their target price on shares of Canadian National Railway from C$172.00 to C$170.00 and set a “sector perform” rating for the company in a report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $144.22.
Canadian National Railway Trading Up 1.1 %
Shares of Canadian National Railway stock opened at $115.32 on Friday. The firm has a 50-day simple moving average of $109.44 and a two-hundred day simple moving average of $114.18. The company has a market cap of $74.78 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 3.14 and a beta of 0.91. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $129.89. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.56 and a current ratio of 0.72.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last issued its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.03). The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. Canadian National Railway had a return on equity of 23.53% and a net margin of 29.08%. As a group, equities analysts predict that Canadian National Railway will post 5.31 earnings per share for the current fiscal year.
Canadian National Railway Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be paid a dividend of $0.5734 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $2.29 dividend on an annualized basis and a dividend yield of 1.99%. Canadian National Railway’s dividend payout ratio is currently 42.41%.
Canadian National Railway Company Profile
Canadian National Railway Company, together with its subsidiaries, engages in rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.
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