Canadian National Railway Company $CNI Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc trimmed its stake in Canadian National Railway by 0.8% in the fourth quarter, selling 89,681 shares and still holding about 11.37 million shares valued at roughly $1.13 billion.
• Wall Street sentiment remains mixed: the stock has a consensus rating of “Hold”, though some firms recently raised targets and Bank of America upgraded it to Buy.
• Canadian National Railway reported Q1 EPS of $1.31, matching estimates, and announced a quarterly dividend of $0.915 per share, implying a 3.1% annualized yield.

TD Asset Management Inc lessened its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,374,457 shares of the transportation company's stock after selling 89,681 shares during the period. Canadian National Railway accounts for about 0.9% of TD Asset Management Inc's holdings, making the stock its 25th biggest position. TD Asset Management Inc owned approximately 1.85% of Canadian National Railway worth $1,126,451,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Greenspring Advisors LLC acquired a new position in Canadian National Railway in the 4th quarter valued at about $272,000. Goldman Sachs Group Inc. increased its position in Canadian National Railway by 2.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,597,721 shares of the transportation company's stock valued at $355,635,000 after acquiring an additional 97,937 shares during the period. Natixis Advisors LLC increased its position in Canadian National Railway by 6.8% in the 4th quarter. Natixis Advisors LLC now owns 262,048 shares of the transportation company's stock valued at $25,903,000 after acquiring an additional 16,572 shares during the period. One Capital Management LLC acquired a new position in Canadian National Railway in the 4th quarter valued at about $477,000. Finally, Peapack Gladstone Financial Corp increased its position in Canadian National Railway by 11.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 3,647 shares of the transportation company's stock valued at $361,000 after acquiring an additional 376 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings upgraded Canadian National Railway from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, May 20th. Barclays boosted their price target on Canadian National Railway from $98.00 to $99.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Sanford C. Bernstein boosted their price target on Canadian National Railway from $113.88 to $117.36 and gave the company a "market perform" rating in a research report on Tuesday, March 31st. Royal Bank Of Canada boosted their target price on Canadian National Railway from $160.00 to $178.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Finally, Bank of America upgraded Canadian National Railway from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $117.00 to $122.00 in a research report on Thursday, April 9th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Canadian National Railway presently has a consensus rating of "Hold" and a consensus price target of $122.04.

Canadian National Railway Stock Performance

NYSE CNI opened at $119.58 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. The business's 50 day moving average is $110.83 and its two-hundred day moving average is $104.36. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $122.48. The stock has a market capitalization of $72.67 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 2.32 and a beta of 0.96.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.31. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The company had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the previous year, the firm posted $1.85 EPS. The firm's quarterly revenue was down .5% on a year-over-year basis. Research analysts expect that Canadian National Railway Company will post 5.76 EPS for the current year.

Canadian National Railway Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.915 per share. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 annualized dividend and a yield of 3.1%. Canadian National Railway's payout ratio is presently 48.73%.

Canadian National Railway 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.

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