Cidel Asset Management Inc. Cuts Stake in Canadian National Railway Company $CNI

Key Points

• Cidel Asset Management cut its Canadian National Railway stake by 21.7% in the second quarter, selling 111,684 shares and retaining 403,673 shares worth approximately $48.2 million. Institutional investors own 80.74% of the company.
• Analyst sentiment remains moderately bullish, with nine Buy ratings and nine Holds. The consensus price target is $137.40, including Royal Bank of Canada’s upgraded $205 target and Susquehanna’s $140 target.
• Canadian National Railway beat quarterly earnings and revenue expectations, reporting $1.50 EPS and $3.35 billion in revenue. The company also declared a quarterly dividend of $0.915 per share, equivalent to a 3.0% annualized yield.

Cidel Asset Management Inc. lessened its stake in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 21.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 403,673 shares of the transportation company's stock after selling 111,684 shares during the quarter. Canadian National Railway accounts for about 2.3% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 8th biggest holding. Cidel Asset Management Inc. owned about 0.07% of Canadian National Railway worth $48,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Canadian National Railway during the second quarter worth $27,000. Curio Wealth LLC acquired a new position in Canadian National Railway in the 4th quarter worth $31,000. MidFirst Bank acquired a new position in Canadian National Railway in the 4th quarter worth $31,000. Caitong International Asset Management Co. Ltd increased its holdings in Canadian National Railway by 378.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company's stock worth $35,000 after purchasing an additional 280 shares in the last quarter. Finally, MBM Wealth Consultants LLC acquired a new stake in shares of Canadian National Railway in the 1st quarter valued at about $37,000. Institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Argus reaffirmed a "hold" rating on shares of Canadian National Railway in a research report on Monday, August 31st. Royal Bank Of Canada lifted their target price on Canadian National Railway from $195.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, July 27th. Barclays boosted their target price on Canadian National Railway from $109.00 to $130.00 and gave the company an "equal weight" rating in a research note on Monday, July 27th. Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a research report on Monday, July 27th. Finally, Susquehanna reaffirmed a "neutral" rating and set a $140.00 price target (up from $138.00) on shares of Canadian National Railway in a research note on Tuesday, July 14th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Canadian National Railway presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.40.

Canadian National Railway Trading Down 0.5%

Shares of NYSE:CNI opened at $122.79 on Wednesday. The company's 50-day moving average price is $125.86 and its two-hundred day moving average price is $116.44. Canadian National Railway Company has a one year low of $90.74 and a one year high of $131.55. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.87 and a quick ratio of 0.61. The stock has a market capitalization of $74.31 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 2.20 and a beta of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.11. Canadian National Railway had a return on equity of 22.22% and a net margin of 26.92%.The company had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter last year, the company earned $1.87 EPS. Canadian National Railway's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts forecast that Canadian National Railway Company will post 5.82 EPS for the current fiscal year.

Canadian National Railway Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 8th will be given a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $3.66 annualized dividend and a dividend yield of 3.0%. Canadian National Railway's payout ratio is 45.92%.

Canadian National Railway Company Profile

Canadian National Railway Company NYSE: CNI is a transportation and logistics company that operates a major freight railway network across Canada and the United States. Its rail system connects the Atlantic, Pacific and Gulf coasts with major industrial centers, ports and distribution markets, supporting trade across North America.

CN transports a diverse range of products, including grain and fertilizers, coal and minerals, forest products, petroleum and chemicals, metals, automotive goods, and consumer and manufactured products.

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