CIBC Asset Management Inc trimmed its position in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,135,247 shares of the transportation company's stock after selling 129,203 shares during the period. Canadian National Railway makes up approximately 2.4% of CIBC Asset Management Inc's holdings, making the stock its 10th largest holding. CIBC Asset Management Inc owned approximately 0.80% of Canadian National Railway worth $647,534,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Keener Financial Planning LLC acquired a new stake in Canadian National Railway during the 4th quarter worth approximately $46,000. Rational Advisors LLC bought a new position in Canadian National Railway during the third quarter worth about $41,000. Crewe Advisors LLC bought a new position in Canadian National Railway during the 3rd quarter worth $43,000. Knuff & Co LLC acquired a new position in shares of Canadian National Railway in the 4th quarter valued at approximately $50,000. Finally, Partnership Wealth Management LLC bought a new stake in Canadian National Railway during the fourth quarter worth $65,000. 80.74% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on CNI shares. Stephens reissued an "equal weight" rating and set a $140.00 price objective on shares of Canadian National Railway in a report on Wednesday, April 24th. Barclays boosted their target price on Canadian National Railway from $127.00 to $130.00 and gave the company an "equal weight" rating in a research report on Thursday, April 4th. Benchmark reissued a "hold" rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. StockNews.com downgraded shares of Canadian National Railway from a "buy" rating to a "hold" rating in a report on Wednesday, May 22nd. Finally, Bank of America raised Canadian National Railway from a "neutral" rating to a "buy" rating and increased their price target for the company from $140.00 to $145.00 in a research report on Wednesday, April 10th. Eighteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Canadian National Railway has a consensus rating of "Hold" and a consensus price target of $149.05.
Get Our Latest Stock Report on Canadian National Railway
Canadian National Railway Stock Performance
CNI traded down $0.49 during trading on Tuesday, reaching $125.42. 534,894 shares of the company were exchanged, compared to its average volume of 977,957. The stock has a market cap of $79.85 billion, a P/E ratio of 20.07, a PEG ratio of 2.23 and a beta of 0.90. The firm has a 50 day moving average of $127.20 and a 200 day moving average of $125.62. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84.
Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.16 billion. On average, sell-side analysts forecast that Canadian National Railway will post 5.9 EPS for the current fiscal year.
Canadian National Railway Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.99%. Canadian National Railway's dividend payout ratio is currently 39.71%.
About Canadian National Railway
(Free Report)
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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