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

BlackDiamond Wealth Management LLC cut its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 22.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,111 shares of the transportation company’s stock after selling 898 shares during the period. BlackDiamond Wealth Management LLC’s holdings in Canadian National Railway were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its holdings in Canadian National Railway by 4.4% in the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock valued at $2,175,935,000 after acquiring an additional 790,420 shares in the last quarter. National Bank of Canada FI raised its holdings in Canadian National Railway by 46.5% in the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock valued at $789,030,000 after acquiring an additional 2,137,948 shares in the last quarter. Fiera Capital Corp raised its holdings in Canadian National Railway by 2.6% in the fourth quarter. Fiera Capital Corp now owns 5,624,594 shares of the transportation company’s stock valued at $570,550,000 after acquiring an additional 142,070 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Canadian National Railway by 12.6% during the fourth quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company’s stock worth $519,843,000 after purchasing an additional 571,967 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Canadian National Railway by 5.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock worth $464,002,000 after purchasing an additional 202,303 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of CNI opened at $98.28 on Tuesday. Canadian National Railway has a 52-week low of $93.64 and a 52-week high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average price of $101.67 and a 200 day moving average price of $107.71. The firm has a market capitalization of $61.76 billion, a PE ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. On average, sell-side analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.6159 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.51%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, March 10th. Canadian National Railway’s dividend payout ratio is 47.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CNI. Evercore ISI raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. raised shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 7th. Royal Bank of Canada dropped their target price on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Barclays dropped their target price on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, TD Securities raised shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and an average price target of $124.19.

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.