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

Key Points

• CIBC Asset Management cut its stake in Canadian National Railway by 21.8% in the fourth quarter, selling 979,648 shares and leaving it with 3,510,774 shares worth about $348.1 million.
• Canadian National Railway reported quarterly EPS of $1.31, matching analyst expectations, on revenue of $3.15 billion; revenue was down 0.5% year over year, but net margin remained strong at 27.22%.
• The company declared a quarterly dividend of $0.915 per share payable June 30, implying an annualized yield of about 3.0%, while analysts currently have a consensus Hold rating with a $122.04 price target.

CIBC Asset Management Inc decreased its holdings in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 21.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,510,774 shares of the transportation company's stock after selling 979,648 shares during the quarter. Canadian National Railway accounts for approximately 0.8% of CIBC Asset Management Inc's holdings, making the stock its 26th biggest holding. CIBC Asset Management Inc owned 0.57% of Canadian National Railway worth $348,051,000 at the end of the most recent quarter.

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

Canadian National Railway Trading Up 1.7%

CNI opened at $121.41 on Wednesday. The firm has a 50 day simple moving average of $109.99 and a 200 day simple moving average of $104.03. Canadian National Railway Company has a fifty-two week low of $90.74 and a fifty-two week high of $121.70. The company has a market cap of $73.78 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) 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 firm had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same period last year, the firm earned $1.85 earnings per share. The business's revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that Canadian National Railway Company will post 5.76 earnings per share for the current year.

Canadian National Railway Announces Dividend

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

Wall Street Analysts Forecast Growth

CNI has been the subject of several recent analyst reports. Barclays increased their price objective on Canadian National Railway from $98.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 30th. Bank of America upgraded shares of Canadian National Railway from a "neutral" rating to a "buy" rating and increased their target price for the stock from $117.00 to $122.00 in a research report on Thursday, April 9th. Royal Bank Of Canada boosted their price target on shares of Canadian National Railway from $160.00 to $178.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Weiss Ratings raised shares of Canadian National Railway from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 20th. Finally, Citigroup boosted their target price on Canadian National Railway from $123.00 to $124.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Canadian National Railway has a consensus rating of "Hold" and a consensus price target of $122.04.

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.

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