Canadian National Railway Company $CNI Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 259,935 shares of the transportation company’s stock after selling 3,991 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Canadian National Railway were worth $31,015,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CenterBook Partners LP lifted its stake in shares of Canadian National Railway by 81.2% during the 3rd quarter. CenterBook Partners LP now owns 12,549 shares of the transportation company’s stock worth $1,492,000 after buying an additional 5,625 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Canadian National Railway by 2.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 16,214 shares of the transportation company’s stock worth $1,928,000 after buying an additional 359 shares during the period. Pathway Financial Advisers LLC acquired a new position in Canadian National Railway in the 3rd quarter valued at about $181,000. Ascent Group LLC grew its stake in Canadian National Railway by 23.4% in the 3rd quarter. Ascent Group LLC now owns 5,297 shares of the transportation company’s stock valued at $630,000 after buying an additional 1,003 shares during the last quarter. Finally, Vise Technologies Inc. grew its stake in Canadian National Railway by 19.8% in the 3rd quarter. Vise Technologies Inc. now owns 11,895 shares of the transportation company’s stock valued at $1,414,000 after buying an additional 1,964 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNI has been the topic of several research reports. Citigroup upped their target price on Canadian National Railway from $143.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. Raymond James Financial cut Canadian National Railway from a “moderate buy” rating to a “hold” rating in a report on Monday, October 19th. Susquehanna boosted their price target on Canadian National Railway from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, November 3rd. Citizens Jmp began coverage on Canadian National Railway in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Finally, Bank of America lowered their price objective on Canadian National Railway from $146.00 to $143.00 and set a “buy” rating on the stock in a research report on Wednesday, September 23rd. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $138.76.

Canadian National Railway Stock Performance

Shares of NYSE:CNI opened at $126.76 on Wednesday. The company’s 50 day moving average price is $121.64 and its two-hundred day moving average price is $116.32. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $131.55. The firm has a market cap of $76.38 billion, a PE ratio of 21.78, a PEG ratio of 2.33 and a beta of 0.90. The company has a quick ratio of 0.61, a current ratio of 0.82 and a debt-to-equity ratio of 0.98.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Friday, October 30th. The transportation company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.27 billion. Canadian National Railway had a net margin of 26.42% and a return on equity of 22.82%. The firm’s quarterly revenue was down 99.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.83 earnings per share. Equities research analysts predict that Canadian National Railway Company will post 5.85 earnings per share for the current year.

Canadian National Railway Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 9th will be issued a C$0.92 dividend. The ex-dividend date of this dividend is Wednesday, December 9th. This represents a $3.66 annualized dividend and a yield of 2.9%. Canadian National Railway’s payout ratio is currently 45.30%.

Canadian National Railway Profile

Canadian National Railway, commonly known as CN, is a North American transportation and logistics company that operates a freight rail network connecting Canada’s Atlantic, Pacific and Gulf coasts with the United States. Its network serves customers across Canada and the U.S. Midwest and South. CN transports a range of commodities and manufactured goods, including intermodal shipments, grain and fertilizers, petroleum and chemicals, forest products, metals and minerals, and finished vehicles. The company also provides services such as rail-connected logistics and supply-chain solutions.