Canadian National Railway Company $CNI Stock: PineStone Asset Management Inc. Lowers Stake

PineStone Asset Management Inc. reduced its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,914,655 shares of the transportation company’s stock after selling 119,700 shares during the quarter. Canadian National Railway makes up about 1.5% of PineStone Asset Management Inc.’s investment portfolio, making the stock its 22nd biggest position. PineStone Asset Management Inc.’s holdings in Canadian National Railway were worth $227,652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CNI. OMERS ADMINISTRATION Corp acquired a new position in Canadian National Railway during the 1st quarter valued at about $59,507,000. Bank of New York Mellon Corp bought a new stake in shares of Canadian National Railway during the 2nd quarter worth about $65,922,000. Canoe Financial LP raised its position in shares of Canadian National Railway by 17.2% during the 1st quarter. Canoe Financial LP now owns 3,426,466 shares of the transportation company’s stock worth $352,527,000 after buying an additional 502,424 shares in the last quarter. Swiss National Bank lifted its stake in shares of Canadian National Railway by 26.3% in the 1st quarter. Swiss National Bank now owns 1,761,000 shares of the transportation company’s stock worth $180,986,000 after acquiring an additional 367,100 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Canadian National Railway by 5.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 4,546,356 shares of the transportation company’s stock worth $532,519,000 after acquiring an additional 248,401 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Trading Up 0.9%

Shares of Canadian National Railway stock opened at $121.85 on Friday. The business has a fifty day simple moving average of $122.33 and a 200-day simple moving average of $119.02. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $131.55. The firm has a market cap of $73.42 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96. The company has a quick ratio of 0.61, a current ratio of 0.87 and a debt-to-equity ratio of 0.99.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.87 earnings per share. On average, equities analysts forecast that Canadian National Railway Company will post 5.80 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th were issued a C$0.92 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 8th. Canadian National Railway’s dividend payout ratio is presently 46.10%.

Analyst Ratings Changes

Several research analysts have recently issued reports on CNI shares. Weiss Ratings upgraded shares of Canadian National Railway from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. Benchmark reiterated a “hold” rating on shares of Canadian National Railway in a research note on Monday, July 27th. National Bank Financial set a $124.00 price objective on shares of Canadian National Railway in a research note on Thursday, June 25th. Citigroup dropped their target price on Canadian National Railway from $151.00 to $143.00 and set a “buy” rating on the stock in a report on Wednesday, October 7th. Finally, Stephens raised Canadian National Railway to a “hold” rating in a report on Wednesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.49.

About Canadian National Railway

Canadian National Railway Company (NYSE: CNI) is a transportation and logistics company that operates a major freight railway network across Canada and the United States. The company provides rail, intermodal and related transportation services for shippers, connecting production and consumption centers with ports and distribution hubs.

CN transports a broad range of commodities and manufactured goods, including petroleum and chemicals, grain and fertilizers, forest products, metals and minerals, coal, automotive products and consumer goods.