Canadian National Railway Company $CNI Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,464,138 shares of the transportation company’s stock after selling 608,402 shares during the quarter. Canadian National Railway accounts for approximately 0.9% of TD Asset Management Inc’s investment portfolio, making the stock its 23rd biggest holding. TD Asset Management Inc owned approximately 1.85% of Canadian National Railway worth $1,081,323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Canadian National Railway by 10.1% during the third quarter. EverSource Wealth Advisors LLC now owns 1,231 shares of the transportation company’s stock worth $116,000 after purchasing an additional 113 shares in the last quarter. Westerkirk Capital Inc. increased its position in shares of Canadian National Railway by 11.8% in the third quarter. Westerkirk Capital Inc. now owns 37,040 shares of the transportation company’s stock valued at $3,493,000 after buying an additional 3,900 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ raised its stake in shares of Canadian National Railway by 7.7% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 118,862 shares of the transportation company’s stock worth $11,211,000 after buying an additional 8,490 shares during the period. Citigroup Inc. lifted its position in shares of Canadian National Railway by 62.0% during the 3rd quarter. Citigroup Inc. now owns 262,863 shares of the transportation company’s stock valued at $24,794,000 after buying an additional 100,629 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in Canadian National Railway by 37.8% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 30,972 shares of the transportation company’s stock valued at $2,920,000 after acquiring an additional 8,495 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Trading Up 1.1%

CNI opened at $111.27 on Wednesday. The firm has a market capitalization of $68.22 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 2.31 and a beta of 0.94. The company’s 50 day simple moving average is $101.08 and its two-hundred day simple moving average is $97.25. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $111.47. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 earnings per share. Analysts expect that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.915 per share. The ex-dividend date is Tuesday, March 10th. This represents a $3.66 annualized dividend and a dividend yield of 3.3%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is presently 49.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CNI shares. BMO Capital Markets restated an “outperform” rating on shares of Canadian National Railway in a research report on Monday, February 2nd. Stephens reduced their price target on shares of Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, February 2nd. Barclays lowered their price objective on Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. UBS Group cut Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.91.

Canadian National Railway Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.