CIBC Asset Management Inc Has $423.60 Million Position in Canadian National Railway Company $CNI

CIBC Asset Management Inc decreased its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 14.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,490,422 shares of the transportation company’s stock after selling 732,048 shares during the period. Canadian National Railway comprises 1.2% of CIBC Asset Management Inc’s holdings, making the stock its 22nd largest holding. CIBC Asset Management Inc owned approximately 0.73% of Canadian National Railway worth $423,595,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Addison Advisors LLC boosted its holdings in shares of Canadian National Railway by 124.0% in the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. First Horizon Corp bought a new stake in shares of Canadian National Railway during the 3rd quarter worth $30,000. Curio Wealth LLC boosted its stake in Canadian National Railway by 31,600.0% in the second quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock valued at $33,000 after buying an additional 316 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in Canadian National Railway in the third quarter valued at about $50,000. Finally, Private Trust Co. NA grew its position in Canadian National Railway by 30.8% in the third quarter. Private Trust Co. NA now owns 603 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 142 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on CNI. Royal Bank Of Canada increased their target price on shares of Canadian National Railway from $148.00 to $158.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. CIBC raised shares of Canadian National Railway from a “neutral” rating to an “outperformer” rating and increased their price objective for the company from $146.00 to $151.00 in a research note on Friday, November 28th. Evercore ISI raised their target price on shares of Canadian National Railway from $98.00 to $103.00 and gave the company an “in-line” rating in a research report on Monday, November 3rd. Susquehanna upped their price target on shares of Canadian National Railway from $115.00 to $116.00 and gave the stock a “positive” rating in a report on Monday, November 3rd. Finally, Wells Fargo & Company cut their price objective on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Canadian National Railway has a consensus rating of “Moderate Buy” and an average target price of $117.64.

Canadian National Railway Price Performance

CNI stock opened at $99.81 on Friday. The company has a market capitalization of $61.32 billion, a P/E ratio of 18.94, a PEG ratio of 2.08 and a beta of 0.96. The company has a fifty day moving average price of $97.54 and a 200-day moving average price of $96.34. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.42 and a current ratio of 0.60. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $108.75.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, October 31st. The transportation company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.05. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Canadian National Railway had a net margin of 26.86% and a return on equity of 21.50%. Canadian National Railway’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. As a group, equities analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 9th were paid a $0.8875 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.65. This represents a $3.55 annualized dividend and a dividend yield of 3.6%. Canadian National Railway’s payout ratio is currently 48.01%.

Canadian National Railway Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.