Mackenzie Financial Corp Has $818.23 Million Stock Holdings in Canadian National Railway (NYSE:CNI)

Mackenzie Financial Corp trimmed its stake in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,066,218 shares of the transportation company's stock after selling 872,621 shares during the quarter. Canadian National Railway accounts for 1.1% of Mackenzie Financial Corp's portfolio, making the stock its 15th largest position. Mackenzie Financial Corp owned about 1.28% of Canadian National Railway worth $818,225,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CNI. Quintet Private Bank Europe S.A. purchased a new stake in shares of Canadian National Railway in the fourth quarter worth approximately $25,000. Arlington Trust Co LLC purchased a new stake in shares of Canadian National Railway in the fourth quarter worth approximately $30,000. Lee Danner & Bass Inc. purchased a new stake in shares of Canadian National Railway in the fourth quarter worth approximately $30,000. Addison Advisors LLC lifted its position in shares of Canadian National Railway by 80.2% in the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company's stock worth $32,000 after purchasing an additional 142 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Canadian National Railway in the fourth quarter worth approximately $52,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Performance

Shares of Canadian National Railway stock traded down $0.09 during midday trading on Thursday, hitting $104.79. The company had a trading volume of 471,273 shares, compared to its average volume of 1,427,853. Canadian National Railway has a 1-year low of $91.65 and a 1-year high of $127.89. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. The business's 50 day simple moving average is $100.17 and its two-hundred day simple moving average is $102.34. The stock has a market cap of $65.86 billion, a PE ratio of 20.47, a P/E/G ratio of 1.95 and a beta of 0.97.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CNI shares. Stifel Nicolaus cut their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Citigroup cut their price objective on shares of Canadian National Railway from $122.00 to $114.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Raymond James lowered shares of Canadian National Railway from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Royal Bank of Canada cut their price objective on shares of Canadian National Railway from $165.00 to $163.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Bank of America raised their price objective on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $119.52.

About Canadian National Railway

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.