Mn Services Vermogensbeheer B.V. decreased its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 371,734 shares of the transportation company’s stock after selling 35,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Canadian National Railway were worth $34,479,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Tortoise Investment Management LLC purchased a new stake in Canadian National Railway in the 1st quarter valued at about $36,000. Brand Asset Management Group Inc. purchased a new stake in shares of Canadian National Railway during the 1st quarter worth about $36,000. Somerset Trust Co grew its holdings in shares of Canadian National Railway by 158.6% during the 1st quarter. Somerset Trust Co now owns 437 shares of the transportation company’s stock worth $39,000 after purchasing an additional 268 shares during the period. Icon Wealth Partners LLC purchased a new stake in shares of Canadian National Railway during the 1st quarter worth about $41,000. Finally, Advisory Alpha LLC purchased a new stake in shares of Canadian National Railway during the 1st quarter worth about $50,000. Institutional investors own 54.52% of the company’s stock.
A number of brokerages have recently issued reports on CNI. Royal Bank of Canada cut Canadian National Railway from an “outperform” rating to a “sector perform” rating and set a $92.00 target price for the company. in a report on Tuesday, April 30th. Stephens boosted their target price on Canadian National Railway from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Credit Suisse Group boosted their target price on Canadian National Railway from $101.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. BMO Capital Markets upgraded Canadian National Railway to a “market perform” rating and set a $125.00 target price for the company in a report on Tuesday, April 30th. They noted that the move was a valuation call. Finally, Desjardins cut Canadian National Railway from a “buy” rating to a “hold” rating and set a $90.32 target price for the company. in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Canadian National Railway has an average rating of “Hold” and an average price target of $98.78.
Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.26 by $0.47. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.94 billion. Canadian National Railway had a return on equity of 24.15% and a net margin of 29.50%. Canadian National Railway’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 EPS. On average, sell-side analysts anticipate that Canadian National Railway will post 4.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $0.411 per share. The ex-dividend date is Friday, September 6th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 1.77%. Canadian National Railway’s payout ratio is 38.94%.
Canadian National Railway Profile
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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