Canadian National Railway (NYSE:CNI) Shares Sold by Tobam

Tobam trimmed its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 47.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 862 shares of the transportation company’s stock after selling 780 shares during the period. Tobam’s holdings in Canadian National Railway were worth $102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Canadian National Railway by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock valued at $2,813,534,000 after purchasing an additional 387,975 shares during the period. Wellington Management Group LLP boosted its position in Canadian National Railway by 9.6% in the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after buying an additional 1,907,938 shares during the period. FIL Ltd grew its stake in shares of Canadian National Railway by 7.2% in the fourth quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock worth $2,412,032,000 after acquiring an additional 1,280,726 shares in the last quarter. TD Asset Management Inc increased its position in shares of Canadian National Railway by 2.8% during the fourth quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock worth $1,471,733,000 after acquiring an additional 314,600 shares during the period. Finally, Capital International Investors raised its stake in shares of Canadian National Railway by 18.1% in the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after acquiring an additional 1,379,976 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Stifel Nicolaus lowered their target price on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. StockNews.com lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Sanford C. Bernstein downgraded shares of Canadian National Railway from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $146.25 to $130.67 in a research note on Monday, July 8th. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, July 24th. Finally, Scotiabank raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 10th. Sixteen equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $138.35.

Canadian National Railway Price Performance

CNI stock opened at $117.82 on Friday. The business has a 50 day simple moving average of $116.29 and a 200-day simple moving average of $123.52. The company has a market capitalization of $74.19 billion, a P/E ratio of 18.79, a PEG ratio of 2.40 and a beta of 0.89. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02. The company has a current ratio of 0.63, a quick ratio of 0.48 and a debt-to-equity ratio of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same period in the previous year, the business posted $1.31 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities analysts anticipate that Canadian National Railway will post 5.63 EPS for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be given a dividend of $0.614 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.46 dividend on an annualized basis and a yield of 2.08%. Canadian National Railway’s payout ratio is 39.23%.

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.