Cidel Asset Management Inc. Sells 182,736 Shares of Canadian National Railway Company $CNI

Cidel Asset Management Inc. trimmed its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 40.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 267,907 shares of the transportation company’s stock after selling 182,736 shares during the period. Canadian National Railway comprises 1.9% of Cidel Asset Management Inc.’s holdings, making the stock its 15th largest position. Cidel Asset Management Inc.’s holdings in Canadian National Railway were worth $26,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lazard Asset Management LLC lifted its stake in Canadian National Railway by 639,137.0% in the third quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock valued at $844,353,000 after acquiring an additional 8,954,310 shares during the last quarter. Troy Asset Management Ltd increased its stake in shares of Canadian National Railway by 158.8% during the 3rd quarter. Troy Asset Management Ltd now owns 2,738,372 shares of the transportation company’s stock worth $258,220,000 after purchasing an additional 1,680,223 shares during the last quarter. Quadrature Capital Ltd raised its holdings in shares of Canadian National Railway by 1,693.5% in the 3rd quarter. Quadrature Capital Ltd now owns 1,739,700 shares of the transportation company’s stock valued at $164,043,000 after purchasing an additional 1,642,700 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Canadian National Railway by 26.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock valued at $695,048,000 after purchasing an additional 1,408,978 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Canadian National Railway by 52.0% in the 3rd quarter. Bank of America Corp DE now owns 2,733,973 shares of the transportation company’s stock valued at $257,814,000 after purchasing an additional 935,425 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.0%

Canadian National Railway stock opened at $104.20 on Monday. The company’s 50-day moving average price is $104.51 and its two-hundred day moving average price is $99.24. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94. The stock has a market cap of $63.69 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.17 and a beta of 0.91. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $113.08.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.82 earnings per share. As a group, analysts expect that Canadian National Railway Company will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th were issued a $0.915 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $3.66 dividend on an annualized basis and a yield of 3.5%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is currently 49.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Sanford C. Bernstein boosted their price target on Canadian National Railway from $113.88 to $117.36 and gave the stock a “market perform” rating in a research report on Tuesday, March 31st. BMO Capital Markets reaffirmed an “outperform” rating on shares of Canadian National Railway in a research report on Monday, February 2nd. Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. UBS Group cut Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada cut their price target on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Canadian National Railway has an average rating of “Hold” and an average price target of $115.70.

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.