Canadian National Railway Company (CNI) Position Trimmed by Bank of Nova Scotia
Bank of Nova Scotia lowered its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 20.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,255,823 shares of the transportation company’s stock after selling 582,305 shares during the period. Canadian National Railway comprises approximately 1.0% of Bank of Nova Scotia’s holdings, making the stock its 19th largest position. Bank of Nova Scotia owned 0.30% of Canadian National Railway worth $183,084,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. City Holding Co. boosted its holdings in Canadian National Railway by 15.4% in the 2nd quarter. City Holding Co. now owns 1,313 shares of the transportation company’s stock worth $106,000 after buying an additional 175 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in Canadian National Railway by 0.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,416 shares of the transportation company’s stock worth $115,000 after buying an additional 12 shares during the period. UBS Asset Management Americas Inc. bought a new position in Canadian National Railway in the 1st quarter worth $123,000. Proficio Capital Partners LLC boosted its holdings in Canadian National Railway by 151.9% in the 1st quarter. Proficio Capital Partners LLC now owns 1,768 shares of the transportation company’s stock worth $135,000 after buying an additional 1,066 shares during the period. Finally, Nikko Asset Management Americas Inc. bought a new position in Canadian National Railway in the 2nd quarter worth $146,000. 54.45% of the stock is owned by institutional investors.
Several research analysts recently weighed in on CNI shares. Cowen and Company reaffirmed a “buy” rating and issued a $83.00 target price on shares of Canadian National Railway in a report on Sunday, September 24th. Zacks Investment Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Tuesday, July 11th. BidaskClub downgraded shares of Canadian National Railway from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Stifel Nicolaus upped their target price on shares of Canadian National Railway from $74.00 to $79.00 and gave the stock a “hold” rating in a report on Thursday, June 15th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Canadian National Railway in a report on Friday, July 28th. Fifteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $82.47.
Shares of Canadian National Railway Company (NYSE CNI) traded up 0.40% during mid-day trading on Tuesday, hitting $80.78. 286,738 shares of the stock traded hands. Canadian National Railway Company has a 12 month low of $61.72 and a 12 month high of $84.48. The company has a market cap of $60.67 billion, a P/E ratio of 19.31 and a beta of 1.13. The firm has a 50 day moving average of $81.14 and a 200 day moving average of $78.55.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 8th were given a dividend of $0.3276 per share. The ex-dividend date of this dividend was Thursday, September 7th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.31. This represents a $1.31 dividend on an annualized basis and a yield of 1.63%. Canadian National Railway’s payout ratio is presently 34.38%.
About Canadian National Railway
Canadian National Railway Company 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 and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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