Bank of Nova Scotia Has $143.76 Million Holdings in Canadian National Railway Company $CNI

Bank of Nova Scotia lessened its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 50.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,397,099 shares of the transportation company’s stock after selling 1,429,311 shares during the quarter. Bank of Nova Scotia owned 0.23% of Canadian National Railway worth $143,761,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Scharf Investments LLC purchased a new position in shares of Canadian National Railway in the fourth quarter valued at $8,283,000. Fisher Asset Management LLC grew its stake in Canadian National Railway by 10.5% in the 4th quarter. Fisher Asset Management LLC now owns 2,279,778 shares of the transportation company’s stock valued at $225,356,000 after acquiring an additional 216,963 shares during the last quarter. Norges Bank purchased a new position in Canadian National Railway during the 4th quarter valued at about $570,161,000. Clean Energy Transition LLP purchased a new position in Canadian National Railway during the 4th quarter valued at about $47,268,000. Finally, QV Investors Inc. increased its holdings in Canadian National Railway by 7.4% during the 4th quarter. QV Investors Inc. now owns 629,069 shares of the transportation company’s stock valued at $62,299,000 after acquiring an additional 43,523 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Canadian National Railway from $99.00 to $109.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Bank of America lifted their price objective on Canadian National Railway from $132.00 to $134.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Evercore raised Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 target price on the stock in a research note on Thursday, June 25th. Weiss Ratings cut Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 9th. Finally, Citizens Jmp initiated coverage on Canadian National Railway in a report on Wednesday, July 15th. They issued a “market perform” rating for the company. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.12.

Canadian National Railway Stock Performance

NYSE:CNI opened at $130.54 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. The firm has a market cap of $79.11 billion, a PE ratio of 23.73, a P/E/G ratio of 2.44 and a beta of 0.96. The firm has a 50 day simple moving average of $119.80 and a 200-day simple moving average of $110.51. Canadian National Railway Company has a 1-year low of $90.74 and a 1-year high of $131.21.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.31. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.15 billion. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. Canadian National Railway’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $1.85 earnings per share. On average, equities analysts expect that Canadian National Railway Company will post 5.67 EPS for the current year.

Canadian National Railway Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.915 per share. The ex-dividend date was Tuesday, June 9th. This represents a $3.66 annualized dividend and a dividend yield of 2.8%. Canadian National Railway’s dividend payout ratio (DPR) is 48.55%.

About Canadian National Railway

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.