CIBC Asset Management Inc Sells 979,648 Shares of Canadian National Railway Company $CNI

CIBC Asset Management Inc trimmed its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 21.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,510,774 shares of the transportation company’s stock after selling 979,648 shares during the period. Canadian National Railway makes up approximately 0.8% of CIBC Asset Management Inc’s holdings, making the stock its 26th biggest holding. CIBC Asset Management Inc’s holdings in Canadian National Railway were worth $348,051,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. High Point Wealth Management LLC bought a new stake in Canadian National Railway in the fourth quarter valued at approximately $27,000. Costello Asset Management INC boosted its position in shares of Canadian National Railway by 83.3% during the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock worth $31,000 after purchasing an additional 150 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Canadian National Railway during the fourth quarter worth $39,000. Fulcrum Asset Management LLP acquired a new position in shares of Canadian National Railway in the 3rd quarter valued at $51,000. Finally, TFC Financial Management Inc. acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $61,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

CNI has been the topic of several research analyst reports. Sanford C. Bernstein raised their price objective on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research note on Tuesday, March 31st. Weiss Ratings raised Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price target for the stock from $117.00 to $122.00 in a research report on Thursday, April 9th. Citigroup raised their price target on Canadian National Railway from $123.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Barclays lifted their price objective on Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Nine equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $122.04.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $121.41 on Wednesday. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $121.70. The company’s fifty day simple moving average is $109.99 and its 200-day simple moving average is $104.03. The firm has a market cap of $73.78 billion, a PE ratio of 22.07, a P/E/G ratio of 2.29 and a beta of 0.96. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.31. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts expect that Canadian National Railway Company will post 5.76 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.915 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. Canadian National Railway’s dividend payout ratio (DPR) is presently 48.73%.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.