Kornitzer Capital Management Inc. KS Lowers Stock Holdings in Canadian National Railway Company $CNI

Kornitzer Capital Management Inc. KS reduced its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 21.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,998 shares of the transportation company’s stock after selling 20,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Canadian National Railway were worth $7,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dagco Inc. purchased a new position in Canadian National Railway during the first quarter valued at $32,000. Curio Wealth LLC increased its holdings in shares of Canadian National Railway by 31,600.0% during the second quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 316 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Canadian National Railway by 354.3% in the 1st quarter. Brooklyn Investment Group now owns 427 shares of the transportation company’s stock worth $42,000 after purchasing an additional 333 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Canadian National Railway by 42.7% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 558 shares of the transportation company’s stock worth $58,000 after purchasing an additional 167 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Canadian National Railway by 31.3% during the 1st quarter. GAMMA Investing LLC now owns 718 shares of the transportation company’s stock valued at $70,000 after purchasing an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

CNI has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an “outperform” rating for the company in a report on Wednesday, July 23rd. Barclays decreased their price objective on shares of Canadian National Railway from $99.00 to $97.00 and set an “equal weight” rating for the company in a report on Thursday, October 2nd. Evercore ISI lowered Canadian National Railway from an “outperform” rating to an “in-line” rating and set a $105.00 target price for the company. in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Canadian National Railway in a report on Friday. Finally, National Bank Financial cut Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus target price of $113.90.

Canadian National Railway Stock Performance

Shares of CNI opened at $95.30 on Friday. The firm has a market capitalization of $58.96 billion, a P/E ratio of 18.33, a PEG ratio of 2.16 and a beta of 0.96. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. Canadian National Railway Company has a one year low of $91.07 and a one year high of $114.13. The business has a fifty day moving average of $95.00 and a 200 day moving average of $98.87.

Canadian National Railway Company Profile

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.