Transform Wealth LLC Cuts Stock Position in Canadian National Railway (NYSE:CNI)

Transform Wealth LLC cut its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 52.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,707 shares of the transportation company’s stock after selling 10,670 shares during the quarter. Transform Wealth LLC’s holdings in Canadian National Railway were worth $1,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Canadian National Railway during the fourth quarter worth $769,556,000. Canoe Financial LP grew its stake in Canadian National Railway by 8,401.1% in the fourth quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock valued at $503,423,000 after purchasing an additional 3,960,049 shares during the last quarter. Capital International Investors grew its stake in Canadian National Railway by 63.2% in the fourth quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock valued at $957,845,000 after purchasing an additional 2,951,506 shares during the last quarter. Wellington Management Group LLP grew its stake in Canadian National Railway by 9.6% in the fourth quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after purchasing an additional 1,907,938 shares during the last quarter. Finally, FIL Ltd grew its stake in Canadian National Railway by 7.2% in the fourth quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after purchasing an additional 1,280,726 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CNI. Stephens reiterated an “equal weight” rating and issued a $140.00 target price on shares of Canadian National Railway in a research note on Wednesday, April 24th. Barclays boosted their price target on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Stifel Nicolaus boosted their price target on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. National Bank Financial upgraded Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company started coverage on Canadian National Railway in a research note on Friday, June 7th. They set an “equal weight” rating and a $130.00 price target on the stock. Eighteen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and an average target price of $148.95.

Canadian National Railway Price Performance

NYSE CNI traded down $0.23 during mid-day trading on Thursday, hitting $118.01. The stock had a trading volume of 4,116,534 shares, compared to its average volume of 1,068,009. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. The firm’s 50 day moving average is $124.26 and its 200 day moving average is $126.22. The stock has a market capitalization of $74.88 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.07 and a beta of 0.90. Canadian National Railway has a twelve month low of $103.96 and a twelve month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.01. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.16 billion. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. Equities research analysts forecast that Canadian National Railway will post 5.9 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a yield of 2.12%. Canadian National Railway’s dividend payout ratio is presently 39.08%.

Canadian National Railway Profile

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.