Canadian National Railway (NYSE:CNI) Shares Sold by SVB Wealth LLC

SVB Wealth LLC trimmed its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 30.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,233 shares of the transportation company’s stock after selling 2,253 shares during the quarter. SVB Wealth LLC’s holdings in Canadian National Railway were worth $689,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Canadian National Railway by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 22,395,401 shares of the transportation company’s stock valued at $2,813,534,000 after purchasing an additional 387,975 shares in the last quarter. Wellington Management Group LLP lifted its stake in Canadian National Railway by 9.6% in the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after buying an additional 1,907,938 shares during the last quarter. FIL Ltd lifted its stake in Canadian National Railway by 7.2% in the fourth quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after buying an additional 1,280,726 shares during the last quarter. TD Asset Management Inc lifted its stake in Canadian National Railway by 2.8% in the fourth quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock valued at $1,471,733,000 after buying an additional 314,600 shares during the last quarter. Finally, Capital International Investors lifted its stake in Canadian National Railway by 18.1% in the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after buying an additional 1,379,976 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CNI. Jefferies Financial Group began coverage on Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 price objective for the company. StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Stifel Nicolaus cut their price target on Canadian National Railway from $137.00 to $133.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Susquehanna decreased their price target on Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $145.00 in a report on Wednesday, April 10th. Eighteen investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.35.

Canadian National Railway Price Performance

Canadian National Railway stock traded down $0.67 during midday trading on Monday, reaching $114.78. The company’s stock had a trading volume of 783,980 shares, compared to its average volume of 1,085,469. Canadian National Railway has a fifty-two week low of $103.96 and a fifty-two week high of $134.02. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.48 and a current ratio of 0.63. The stock’s 50 day simple moving average is $121.28 and its 200 day simple moving average is $125.50. The firm has a market capitalization of $72.25 billion, a PE ratio of 18.31, a P/E/G ratio of 2.32 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.09). Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the prior year, the business earned $1.31 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts forecast that Canadian National Railway will post 5.69 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a $0.614 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, September 6th. Canadian National Railway’s dividend payout ratio is currently 39.23%.

Canadian National Railway 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.