AMF Tjanstepension AB Sells 87,267 Shares of Canadian National Railway (NYSE:CNI)

AMF Tjanstepension AB cut its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 65.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 45,486 shares of the transportation company’s stock after selling 87,267 shares during the period. AMF Tjanstepension AB’s holdings in Canadian National Railway were worth $6,094,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CNI. GAMMA Investing LLC boosted its holdings in shares of Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after buying an additional 207 shares in the last quarter. Keener Financial Planning LLC bought a new position in shares of Canadian National Railway during the 4th quarter worth approximately $46,000. Knuff & Co LLC bought a new position in shares of Canadian National Railway during the 4th quarter worth approximately $50,000. ICA Group Wealth Management LLC bought a new position in shares of Canadian National Railway during the 4th quarter worth approximately $56,000. Finally, Partnership Wealth Management LLC bought a new position in shares of Canadian National Railway during the 4th quarter worth approximately $65,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Stock Up 0.1 %

CNI stock opened at $118.11 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60. The company has a market capitalization of $74.94 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 2.07 and a beta of 0.90. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The stock has a fifty day moving average of $123.88 and a 200-day moving average of $126.16.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.16 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. As a group, equities research analysts predict that Canadian National Railway will post 5.9 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $0.625 per share. The ex-dividend date was Friday, June 7th. This represents a $2.50 annualized dividend and a dividend yield of 2.12%. Canadian National Railway’s payout ratio is 39.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CNI. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. Susquehanna lowered their target price on Canadian National Railway from $142.00 to $135.00 and set a “neutral” rating on the stock in a research report on Tuesday. Stephens reaffirmed an “equal weight” rating and set a $140.00 target price on shares of Canadian National Railway in a research report on Wednesday, April 24th. Wells Fargo & Company began coverage on Canadian National Railway in a research report on Friday, June 7th. They set an “equal weight” rating and a $130.00 target price on the stock. Finally, Jefferies Financial Group started coverage on Canadian National Railway in a research report on Monday, April 8th. They set a “hold” rating and a $130.00 target price on the stock. Eighteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $148.95.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.