World Asset Management Inc lowered its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 40.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,086 shares of the transportation company’s stock after selling 7,560 shares during the quarter. World Asset Management Inc’s holdings in Canadian National Railway were worth $822,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Contravisory Investment Management Inc. bought a new stake in Canadian National Railway during the fourth quarter worth about $45,000. Clean Yield Group acquired a new stake in Canadian National Railway in the 4th quarter worth approximately $46,000. Zions Bancorporation acquired a new stake in Canadian National Railway during the 3rd quarter valued at approximately $102,000. Palo Capital Inc. purchased a new stake in shares of Canadian National Railway in the third quarter valued at about $114,000. Finally, Girard Partners LTD. purchased a new position in Canadian National Railway in the third quarter valued at approximately $131,000. Institutional investors own 54.23% of the company’s stock.
Several equities research analysts recently issued reports on CNI shares. Bank of America downgraded Canadian National Railway from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Cowen reiterated an “outperform” rating and set a $96.00 price target (down previously from $98.00) on shares of Canadian National Railway in a report on Wednesday, October 24th. Credit Suisse Group upped their price objective on shares of Canadian National Railway from $91.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, October 24th. Zacks Investment Research cut Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Finally, Deutsche Bank lifted their price objective on Canadian National Railway from $96.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 3rd. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $92.16.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, January 29th. The transportation company reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.38. Canadian National Railway had a net margin of 30.19% and a return on equity of 23.28%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Canadian National Railway will post 4.74 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be issued a $0.4026 dividend. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.35. This represents a $1.61 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, March 7th. Canadian National Railway’s payout ratio is presently 32.93%.
About Canadian National Railway
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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