Canadian National Railway Co. (CNI) Position Cut by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. reduced its stake in Canadian National Railway Co. (NYSE:CNI) by 5.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,926 shares of the company’s stock after selling 2,336 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Canadian National Railway were worth $2,522,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in CNI. Wellington Management Group LLP boosted its position in Canadian National Railway by 6.2% in the first quarter. Wellington Management Group LLP now owns 28,070,677 shares of the company’s stock worth $1,758,987,000 after buying an additional 1,639,473 shares during the last quarter. Mckinley Capital Management LLC Delaware boosted its position in Canadian National Railway by 1,554.0% in the first quarter. Mckinley Capital Management LLC Delaware now owns 356,299 shares of the company’s stock worth $22,254,000 after buying an additional 334,757 shares during the last quarter. Renaissance Technologies LLC boosted its position in Canadian National Railway by 357.1% in the first quarter. Renaissance Technologies LLC now owns 276,100 shares of the company’s stock worth $17,246,000 after buying an additional 215,700 shares during the last quarter. Fisher Asset Management LLC boosted its position in Canadian National Railway by 26.0% in the second quarter. Fisher Asset Management LLC now owns 1,015,706 shares of the company’s stock worth $60,465,000 after buying an additional 209,599 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Canadian National Railway by 13.7% in the first quarter. JPMorgan Chase & Co. now owns 1,657,440 shares of the company’s stock worth $103,525,000 after buying an additional 199,288 shares during the last quarter. Institutional investors and hedge funds own 56.06% of the company’s stock.
Shares of Canadian National Railway Co. (NYSE:CNI) traded up 1.32% during trading on Friday, hitting $65.40. The stock had a trading volume of 891,845 shares. The firm has a market cap of $50.46 billion, a P/E ratio of 18.83 and a beta of 1.12. Canadian National Railway Co. has a 12-month low of $46.23 and a 12-month high of $66.22. The firm has a 50 day moving average price of $64.09 and a 200 day moving average price of $61.73.
Canadian National Railway (NYSE:CNI) last issued its quarterly earnings data on Monday, July 25th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.09 by $0.02. Canadian National Railway had a return on equity of 24.13% and a net margin of 29.55%. The firm earned $2.84 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities analysts expect that Canadian National Railway Co. will post $3.41 earnings per share for the current fiscal year.
The company also recently announced a dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 9th were given a $0.288 dividend. The ex-dividend date was Wednesday, September 7th. Canadian National Railway’s payout ratio is 33.72%.
A number of research analysts have recently commented on CNI shares. Royal Bank Of Canada restated an “outperform” rating and issued a $89.00 target price on shares of Canadian National Railway in a research note on Tuesday, July 26th. Argus started coverage on Canadian National Railway in a research note on Tuesday, June 21st. They issued a “buy” rating and a $73.00 target price for the company. Atlantic Securities started coverage on Canadian National Railway in a research report on Thursday, August 11th. They set a “neutral” rating for the company. Desjardins reaffirmed a “hold” rating and set a $86.00 price objective on shares of Canadian National Railway in a research report on Tuesday, July 26th. Finally, Barclays PLC raised their price objective on Canadian National Railway from $65.00 to $68.00 and gave the company an “equal weight” rating in a research report on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $73.49.
About Canadian National Railway
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.
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