Scotia Capital Inc. decreased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,131,580 shares of the transportation company’s stock after selling 69,572 shares during the period. Canadian National Railway makes up 2.4% of Scotia Capital Inc.’s holdings, making the stock its 8th largest position. Scotia Capital Inc. owned 0.30% of Canadian National Railway worth $196,870,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. FIL Ltd boosted its holdings in Canadian National Railway by 22.7% during the first quarter. FIL Ltd now owns 9,901,396 shares of the transportation company’s stock worth $886,372,000 after buying an additional 1,829,102 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Canadian National Railway during the first quarter valued at approximately $165,551,000. Thoroughbred Financial Services LLC acquired a new position in Canadian National Railway during the second quarter valued at approximately $108,547,000. JPMorgan Chase & Co. grew its holdings in Canadian National Railway by 37.4% during the second quarter. JPMorgan Chase & Co. now owns 3,683,848 shares of the transportation company’s stock valued at $337,220,000 after purchasing an additional 1,001,851 shares during the period. Finally, Lazard Asset Management LLC increased its stake in Canadian National Railway by 348.2% in the first quarter. Lazard Asset Management LLC now owns 1,262,495 shares of the transportation company’s stock valued at $112,967,000 after purchasing an additional 980,798 shares in the last quarter. Institutional investors own 53.10% of the company’s stock.
CNI traded down $0.86 during trading on Wednesday, hitting $92.30. The company had a trading volume of 88,210 shares, compared to its average volume of 668,918. The company has a market capitalization of $67.24 billion, a PE ratio of 22.19, a PEG ratio of 1.42 and a beta of 1.02. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.66. Canadian National Railway has a one year low of $70.36 and a one year high of $96.49. The firm’s 50-day moving average price is $92.65 and its 200 day moving average price is $91.39.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.47. Canadian National Railway had a return on equity of 24.15% and a net margin of 29.50%. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the company earned $1.51 earnings per share. Canadian National Railway’s quarterly revenue was up 9.0% on a year-over-year basis. Sell-side analysts forecast that Canadian National Railway will post 4.7 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a dividend of $0.411 per share. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 6th. This represents a $1.64 annualized dividend and a yield of 1.78%. Canadian National Railway’s dividend payout ratio is presently 38.94%.
A number of brokerages have recently weighed in on CNI. ValuEngine cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Credit Suisse Group raised their price objective on Canadian National Railway from $101.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Goldman Sachs Group initiated coverage on Canadian National Railway in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $97.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Canadian National Railway presently has a consensus rating of “Hold” and an average target price of $98.78.
About Canadian National Railway
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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