Mackenzie Financial Corp Decreases Holdings in Canadian National Railway (NYSE:CNI)

Mackenzie Financial Corp lowered its holdings in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 9.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,066,218 shares of the transportation company's stock after selling 872,621 shares during the quarter. Canadian National Railway makes up about 1.1% of Mackenzie Financial Corp's investment portfolio, making the stock its 15th largest holding. Mackenzie Financial Corp owned approximately 1.28% of Canadian National Railway worth $818,225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Canadian National Railway in the 4th quarter worth about $563,048,000. Royal Bank of Canada lifted its holdings in Canadian National Railway by 7.5% in the fourth quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company's stock worth $2,817,616,000 after buying an additional 1,934,622 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Canadian National Railway by 33.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company's stock worth $557,278,000 after buying an additional 1,380,554 shares during the period. Capital International Investors lifted its holdings in Canadian National Railway by 12.8% in the fourth quarter. Capital International Investors now owns 11,822,063 shares of the transportation company's stock worth $1,199,680,000 after buying an additional 1,341,133 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Canadian National Railway by 29.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company's stock worth $488,488,000 after buying an additional 1,102,977 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Canadian National Railway Stock Down 0.3%

NYSE CNI traded down $0.29 during mid-day trading on Wednesday, reaching $104.93. The stock had a trading volume of 793,582 shares, compared to its average volume of 1,315,789. Canadian National Railway has a 1 year low of $91.65 and a 1 year high of $127.89. The stock has a market cap of $65.95 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 1.95 and a beta of 0.97. The company has a fifty day moving average price of $100.01 and a 200 day moving average price of $102.32. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.03. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $4.38 billion. Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. The company's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.72 earnings per share. On average, research analysts expect that Canadian National Railway will post 5.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Stephens raised their target price on Canadian National Railway from $105.00 to $109.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Wall Street Zen lowered Canadian National Railway from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Evercore ISI lowered their price objective on Canadian National Railway from $119.00 to $114.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Loop Capital cut shares of Canadian National Railway from a "hold" rating to a "sell" rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada lowered their price target on shares of Canadian National Railway from $165.00 to $163.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $119.52.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.