Caisse DE Depot ET Placement DU Quebec Raises Stock Holdings in Canadian National Railway (NYSE:CNI)
Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Canadian National Railway (NYSE:CNI – Free Report) (TSE:CNR) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,441,800 shares of the transportation company’s stock after purchasing an additional 108,100 shares during the quarter. Canadian National Railway comprises 4.0% of Caisse DE Depot ET Placement DU Quebec’s portfolio, making the stock its 4th biggest holding. Caisse DE Depot ET Placement DU Quebec owned 1.89% of Canadian National Railway worth $1,508,342,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its holdings in Canadian National Railway by 14,950.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,783 shares of the transportation company’s stock valued at $1,184,000 after buying an additional 9,718 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in Canadian National Railway by 50.7% during the 2nd quarter. State of Wisconsin Investment Board now owns 42,200 shares of the transportation company’s stock valued at $5,109,000 after buying an additional 14,200 shares in the last quarter. State Street Corp grew its holdings in Canadian National Railway by 10.6% during the 2nd quarter. State Street Corp now owns 208,472 shares of the transportation company’s stock valued at $25,240,000 after buying an additional 20,000 shares in the last quarter. First Foundation Advisors boosted its holdings in shares of Canadian National Railway by 1.6% in the 2nd quarter. First Foundation Advisors now owns 12,741 shares of the transportation company’s stock worth $1,543,000 after purchasing an additional 198 shares during the period. Finally, LBP AM SA boosted its holdings in shares of Canadian National Railway by 1.1% in the 2nd quarter. LBP AM SA now owns 215,521 shares of the transportation company’s stock worth $26,128,000 after purchasing an additional 2,435 shares during the period. Hedge funds and other institutional investors own 67.60% of the company’s stock.
Canadian National Railway Stock Down 0.5 %
Shares of NYSE CNI traded down $0.60 during mid-day trading on Friday, reaching $117.78. 806,755 shares of the company were exchanged, compared to its average volume of 1,147,839. The company has a quick ratio of 0.56, a current ratio of 0.72 and a debt-to-equity ratio of 0.81. The stock has a market cap of $76.37 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 3.26 and a beta of 0.92. Canadian National Railway has a 1 year low of $103.96 and a 1 year high of $129.47. The firm has a 50-day moving average of $110.69 and a 200 day moving average of $113.75.
Canadian National Railway (NYSE:CNI – Get Free Report) (TSE:CNR) last issued its quarterly earnings data on Tuesday, October 24th. The transportation company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.03). The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Canadian National Railway had a return on equity of 23.53% and a net margin of 29.08%. On average, research analysts expect that Canadian National Railway will post 5.31 earnings per share for the current year.
Canadian National Railway Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be paid a $0.5811 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, December 6th. Canadian National Railway’s dividend payout ratio (DPR) is presently 41.86%.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Citigroup lifted their target price on Canadian National Railway from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Stifel Nicolaus dropped their target price on Canadian National Railway from $125.00 to $122.00 and set a “hold” rating for the company in a report on Tuesday, October 3rd. National Bank Financial dropped their target price on Canadian National Railway from C$171.00 to C$168.00 in a report on Wednesday, October 4th. Bank of America cut Canadian National Railway from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $131.00 to $115.00 in a report on Thursday, October 5th. Finally, CIBC dropped their target price on Canadian National Railway from C$175.00 to C$173.00 and set an “outperformer” rating for the company in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Canadian National Railway currently has an average rating of “Hold” and an average price target of $143.00.
View Our Latest Stock Analysis on CNI
About Canadian National Railway (Free Report)
Canadian National Railway Company, together with its subsidiaries, engages in rail and related transportation business. The company offers rail services, which include equipment, custom brokage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services including temperature controlled cargo, port partnership, transloading and distribution, logistic parks, customs brokerage, trucking, and moving grains in containers.
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