CIBC Asset Management Inc Has $428.92 Million Position in Canadian National Railway (CNI)

CIBC Asset Management Inc decreased its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,783,812 shares of the transportation company’s stock after selling 324,702 shares during the period. Canadian National Railway accounts for approximately 2.7% of CIBC Asset Management Inc’s holdings, making the stock its 11th biggest holding. CIBC Asset Management Inc owned 0.66% of Canadian National Railway worth $428,918,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the stock. Jag Capital Management LLC lifted its holdings in shares of Canadian National Railway by 2.7% in the 2nd quarter. Jag Capital Management LLC now owns 23,005 shares of the transportation company’s stock valued at $1,881,000 after acquiring an additional 603 shares during the last quarter. Thomas White International Ltd. lifted its stake in Canadian National Railway by 1.2% in the second quarter. Thomas White International Ltd. now owns 54,707 shares of the transportation company’s stock worth $4,472,000 after purchasing an additional 622 shares during the last quarter. Baskin Financial Services Inc. lifted its stake in Canadian National Railway by 6.5% in the third quarter. Baskin Financial Services Inc. now owns 10,722 shares of the transportation company’s stock worth $961,000 after purchasing an additional 650 shares during the last quarter. Windward Capital Management Co. CA lifted its stake in Canadian National Railway by 0.3% in the second quarter. Windward Capital Management Co. CA now owns 235,649 shares of the transportation company’s stock worth $19,264,000 after purchasing an additional 672 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in Canadian National Railway by 30.8% in the second quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the transportation company’s stock worth $239,000 after purchasing an additional 690 shares during the last quarter. 54.00% of the stock is owned by hedge funds and other institutional investors.

NYSE CNI opened at $85.04 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.72. Canadian National Railway has a 12-month low of $70.59 and a 12-month high of $91.90. The firm has a market capitalization of $61.93 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.18 and a beta of 0.97.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 23rd. The transportation company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.38. Canadian National Railway had a net margin of 42.06% and a return on equity of 22.67%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the previous year, the company earned $1.31 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Sell-side analysts anticipate that Canadian National Railway will post 4.18 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be paid a dividend of $0.3477 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.34. This represents a $1.39 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, December 6th. Canadian National Railway’s payout ratio is presently 35.94%.

CNI has been the topic of a number of research reports. Zacks Investment Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research report on Tuesday, August 7th. ValuEngine raised shares of Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Wednesday, July 25th. Cowen reaffirmed a “buy” rating and set a $98.00 target price on shares of Canadian National Railway in a research report on Wednesday, July 25th. Deutsche Bank raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and raised their target price for the stock from $81.00 to $95.00 in a research report on Monday, July 9th. Finally, Citigroup raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Tuesday, September 25th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Canadian National Railway currently has an average rating of “Hold” and an average target price of $92.07.

Canadian National Railway Profile

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

Featured Article: Fiduciary

Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

Receive News & Ratings for Canadian National Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian National Railway and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply