AGF Management Ltd. Has $69.55 Million Stock Position in Canadian National Railway (NYSE:CNI)

AGF Management Ltd. cut its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 36.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 588,712 shares of the transportation company’s stock after selling 333,894 shares during the quarter. AGF Management Ltd.’s holdings in Canadian National Railway were worth $69,545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Canadian National Railway during the second quarter valued at about $26,000. GAMMA Investing LLC lifted its position in shares of Canadian National Railway by 766.7% during the 1st quarter. GAMMA Investing LLC now owns 234 shares of the transportation company’s stock worth $31,000 after purchasing an additional 207 shares during the last quarter. Addison Advisors LLC lifted its position in shares of Canadian National Railway by 159.1% during the 2nd quarter. Addison Advisors LLC now owns 241 shares of the transportation company’s stock worth $28,000 after purchasing an additional 148 shares during the last quarter. ORG Partners LLC bought a new stake in Canadian National Railway during the 2nd quarter valued at approximately $34,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Canadian National Railway in the 1st quarter valued at approximately $64,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Canadian National Railway stock opened at $115.81 on Wednesday. The business has a 50 day simple moving average of $116.22 and a 200 day simple moving average of $122.76. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The company has a market capitalization of $73.24 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.34 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.09). The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.40 billion. Canadian National Railway had a net margin of 32.00% and a return on equity of 23.58%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 EPS. On average, sell-side analysts forecast that Canadian National Railway will post 5.64 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be issued a $0.614 dividend. This represents a $2.46 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, September 6th. Canadian National Railway’s payout ratio is currently 39.07%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Sanford C. Bernstein lowered Canadian National Railway from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $146.25 to $130.67 in a report on Monday, July 8th. Susquehanna cut their target price on shares of Canadian National Railway from $135.00 to $130.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Wells Fargo & Company reduced their price target on shares of Canadian National Railway from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Stifel Nicolaus dropped their price objective on shares of Canadian National Railway from $137.00 to $133.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Finally, National Bank Financial raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research report on Thursday, June 27th. Sixteen equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $138.35.

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.