Canadian National Railway Company $CNI Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank trimmed its stake in Canadian National by 28.9%, selling 98,904 shares and leaving 243,701 shares valued at about $24.14 million at quarter-end.
• Canadian National reported an EPS beat of $1.49 vs. $1.43 while revenue came in at $3.24 billion below expectations, and it raised the quarterly dividend to $0.915 (annualized $3.66, ~3.3% yield).
• Analysts are mixed with a consensus rating of "Hold" and an average price target of $119.14, and institutional investors own roughly 80.7% of the stock.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 28.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 243,701 shares of the transportation company's stock after selling 98,904 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Canadian National Railway were worth $24,135,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in shares of Canadian National Railway during the 3rd quarter valued at approximately $28,000. First Horizon Corp acquired a new stake in shares of Canadian National Railway during the 3rd quarter valued at approximately $30,000. Costello Asset Management INC lifted its position in shares of Canadian National Railway by 83.3% during the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company's stock valued at $31,000 after acquiring an additional 150 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Canadian National Railway during the 3rd quarter valued at approximately $50,000. Finally, Fulcrum Asset Management LLP acquired a new stake in shares of Canadian National Railway during the 3rd quarter valued at approximately $51,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Down 0.9%

CNI stock opened at $110.24 on Wednesday. The stock has a market capitalization of $67.11 billion, a P/E ratio of 20.30, a PEG ratio of 2.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. Canadian National Railway Company has a one year low of $90.74 and a one year high of $113.08. The company has a 50 day moving average price of $106.79 and a two-hundred day moving average price of $100.58.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released its earnings results on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. The firm had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $4.43 billion. Canadian National Railway had a net margin of 27.28% and a return on equity of 22.14%. Canadian National Railway's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.82 EPS. As a group, sell-side analysts expect that Canadian National Railway Company will post 5.75 EPS for the current year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th were issued a $0.915 dividend. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, March 10th. This represents a $3.66 annualized dividend and a yield of 3.3%. Canadian National Railway's dividend payout ratio (DPR) is presently 49.36%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CNI shares. Bank of America raised shares of Canadian National Railway from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $117.00 to $122.00 in a research note on Thursday, April 9th. UBS Group cut shares of Canadian National Railway from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Sanford C. Bernstein raised their price objective on shares of 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. BMO Capital Markets reissued an "outperform" rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada dropped their price objective on shares of Canadian National Railway from $153.00 to $151.00 and set an "outperform" rating for the company in a research note on Monday, February 2nd. Nine analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $119.14.

About Canadian National Railway

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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