MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd Sells 14,934 Shares of Canadian National Railway Company $CNI

Key Points

• MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd reduced its Canadian National Railway stake by 4.6%, selling 14,934 shares and retaining 309,176 shares valued at approximately $36.8 million. CNI represents about 4.7% of the firm’s portfolio.
• Institutional ownership remains high at 80.74%, with several major investors—including Lazard, TD Waterhouse Canada and Swiss National Bank—recently increasing their positions.
• Analyst sentiment is mixed, with nine Buy ratings and ten Hold ratings, producing an overall Hold consensus and an average price target of $137.49. CNI opened at $124.31, down 1.0%.

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd lessened its holdings in shares of Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR by 4.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 309,176 shares of the transportation company's stock after selling 14,934 shares during the quarter. Canadian National Railway comprises approximately 4.7% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's holdings, making the stock its 4th largest position. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd owned approximately 0.05% of Canadian National Railway worth $36,761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of CNI. Lazard Asset Management LLC increased its holdings in shares of Canadian National Railway by 2.0% during the first quarter. Lazard Asset Management LLC now owns 9,077,518 shares of the transportation company's stock valued at $934,488,000 after purchasing an additional 173,894 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Canadian National Railway by 5.8% during the third quarter. TD Waterhouse Canada Inc. now owns 4,546,356 shares of the transportation company's stock valued at $532,519,000 after purchasing an additional 248,401 shares in the last quarter. Swiss National Bank lifted its holdings in Canadian National Railway by 26.3% in the first quarter. Swiss National Bank now owns 1,761,000 shares of the transportation company's stock worth $180,986,000 after purchasing an additional 367,100 shares during the period. Cardinal Capital Management Inc. lifted its holdings in Canadian National Railway by 5.8% in the second quarter. Cardinal Capital Management Inc. now owns 1,254,252 shares of the transportation company's stock worth $149,384,000 after purchasing an additional 68,791 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Canadian National Railway by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,382,499 shares of the transportation company's stock worth $142,066,000 after purchasing an additional 101,861 shares during the period. Institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CNI shares. Royal Bank Of Canada increased their target price on shares of Canadian National Railway from $195.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, July 27th. Argus restated a "hold" rating on shares of Canadian National Railway in a research report on Monday, August 31st. Citigroup dropped their price target on shares of Canadian National Railway from $151.00 to $143.00 and set a "buy" rating on the stock in a research report on Wednesday, October 7th. Benchmark reaffirmed a "hold" rating on shares of Canadian National Railway in a research note on Monday, July 27th. Finally, Bank of America decreased their price objective on shares of Canadian National Railway from $146.00 to $143.00 and set a "buy" rating for the company in a report on Wednesday, September 23rd. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $137.49.

Canadian National Railway Stock Down 1.0%

Shares of CNI stock opened at $124.31 on Thursday. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $131.55. The stock has a market cap of $74.90 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. The business's fifty day moving average is $121.85 and its 200-day moving average is $115.09. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87.

Canadian National Railway 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. The company provides rail, intermodal and related transportation services for shippers, connecting production and consumption centers with ports and distribution hubs.

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

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