TD Asset Management Inc Decreases Holdings in Canadian National Railway Company $CNI

TD Asset Management Inc decreased its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 0.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,374,457 shares of the transportation company’s stock after selling 89,681 shares during the period. Canadian National Railway makes up 0.9% of TD Asset Management Inc’s holdings, making the stock its 25th largest holding. TD Asset Management Inc’s holdings in Canadian National Railway were worth $1,126,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. High Point Wealth Management LLC purchased a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $27,000. Costello Asset Management INC boosted its stake in shares of Canadian National Railway by 83.3% during the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock worth $31,000 after acquiring an additional 150 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $39,000. Fulcrum Asset Management LLP purchased a new stake in shares of Canadian National Railway during the 3rd quarter worth approximately $51,000. Finally, TFC Financial Management Inc. purchased a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

CNI stock opened at $119.58 on Thursday. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $122.48. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.67. The stock’s 50 day moving average price is $110.83 and its 200 day moving average price is $104.36. The firm has a market cap of $72.67 billion, a P/E ratio of 21.74, a PEG ratio of 2.32 and a beta of 0.96.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.31. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.Canadian National Railway’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 EPS. On average, sell-side analysts expect that Canadian National Railway Company will post 5.76 earnings per share for the current fiscal year.

Canadian National Railway Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a $0.915 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 3.1%. Canadian National Railway’s payout ratio is 48.73%.

Analyst Ratings Changes

Several equities research analysts have recently commented on CNI shares. Barclays boosted their price target on Canadian National Railway from $98.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada upped their target price on Canadian National Railway from $160.00 to $178.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Weiss Ratings raised Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and upped their target price for the company from $117.00 to $122.00 in a research note on Thursday, April 9th. Finally, Sanford C. Bernstein upped their target price on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research note on Tuesday, March 31st. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Canadian National Railway presently has a consensus rating of “Hold” and a consensus target price of $122.04.

Canadian National Railway Company 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.