Ontario Teachers Pension Plan Board Sells 2,670 Shares of Canadian National Railway (NYSE:CNI)

Ontario Teachers Pension Plan Board trimmed its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 12.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,865 shares of the transportation company’s stock after selling 2,670 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Canadian National Railway were worth $2,485,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PDS Planning Inc raised its holdings in shares of Canadian National Railway by 2.0% during the 4th quarter. PDS Planning Inc now owns 4,566 shares of the transportation company’s stock worth $574,000 after acquiring an additional 89 shares in the last quarter. Choreo LLC raised its holdings in shares of Canadian National Railway by 1.5% during the 1st quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock worth $846,000 after acquiring an additional 97 shares in the last quarter. Bfsg LLC raised its holdings in shares of Canadian National Railway by 110.5% during the 1st quarter. Bfsg LLC now owns 200 shares of the transportation company’s stock worth $26,000 after acquiring an additional 105 shares in the last quarter. Capital International Ltd. CA raised its holdings in shares of Canadian National Railway by 0.5% during the 4th quarter. Capital International Ltd. CA now owns 23,455 shares of the transportation company’s stock worth $2,950,000 after acquiring an additional 113 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Canadian National Railway by 1.1% during the 4th quarter. Signaturefd LLC now owns 10,862 shares of the transportation company’s stock worth $1,365,000 after acquiring an additional 123 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CNI shares. Barclays decreased their price objective on Canadian National Railway from $130.00 to $128.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price target for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Wells Fargo & Company assumed coverage on Canadian National Railway in a report on Friday, June 7th. They set an “equal weight” rating and a $130.00 price target on the stock. Stifel Nicolaus increased their price target on Canadian National Railway from $134.00 to $137.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, Stephens restated an “equal weight” rating and set a $140.00 price target on shares of Canadian National Railway in a report on Wednesday, April 24th. Eighteen equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $148.08.

Canadian National Railway Stock Up 1.3 %

Shares of CNI traded up $1.52 during midday trading on Monday, reaching $122.19. 799,395 shares of the stock were exchanged, compared to its average volume of 1,060,255. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. The company’s 50 day moving average is $122.19 and its two-hundred day moving average is $125.77. The company has a market capitalization of $77.27 billion, a P/E ratio of 19.39, a PEG ratio of 2.29 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.16 billion. On average, sell-side analysts anticipate that Canadian National Railway will post 5.84 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Friday, June 7th. Canadian National Railway’s payout ratio is currently 39.55%.

Canadian National Railway Company 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.