Carnegie Capital Asset Management LLC Sells 300 Shares of Canadian National Railway (NYSE:CNI)

Carnegie Capital Asset Management LLC trimmed its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 13.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the transportation company’s stock after selling 300 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Canadian National Railway were worth $251,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CNI. Norges Bank bought a new stake in shares of Canadian National Railway in the 4th quarter valued at approximately $727,713,000. Artisan Partners Limited Partnership bought a new stake in shares of Canadian National Railway during the 3rd quarter worth approximately $273,243,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Canadian National Railway by 25,348.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,650,355 shares of the transportation company’s stock worth $194,698,000 after acquiring an additional 1,643,870 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Canadian National Railway during the 1st quarter worth approximately $137,546,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Canadian National Railway by 166.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,772,695 shares of the transportation company’s stock worth $199,375,000 after acquiring an additional 1,108,104 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Trading Down 0.2 %

Shares of NYSE:CNI opened at $127.05 on Thursday. Canadian National Railway has a 12-month low of $103.96 and a 12-month high of $134.02. The business’s fifty day simple moving average is $129.74 and its 200-day simple moving average is $121.48. The company has a market capitalization of $81.15 billion, a PE ratio of 20.04, a P/E/G ratio of 2.22 and a beta of 0.88. The company has a current ratio of 0.61, a quick ratio of 0.47 and a debt-to-equity ratio of 0.80.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, January 23rd. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Canadian National Railway had a return on equity of 23.56% and a net margin of 33.38%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.25 billion. As a group, equities research analysts predict that Canadian National Railway will post 5.94 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 7th were paid a dividend of $0.638 per share. This represents a $2.55 annualized dividend and a yield of 2.01%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, March 6th. Canadian National Railway’s payout ratio is 39.59%.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of research analyst reports. TD Securities lowered Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Wells Fargo & Company raised their price target on Canadian National Railway from $110.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Citigroup raised their price target on Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Susquehanna Bancshares raised their price target on Canadian National Railway from $115.00 to $143.00 and gave the stock a “neutral” rating in a research note on Monday, January 8th. Finally, Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 10th. Eighteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $147.52.

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.