Canadian National Railway (NYSE:CNI) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 1.2% during the 1st quarter, HoldingsChannel reports. The fund owned 1,107,638 shares of the transportation company’s stock after selling 13,730 shares during the quarter. Clearbridge Investments LLC’s holdings in Canadian National Railway were worth $145,887,000 at the end of the most recent quarter.

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

Canadian National Railway Stock Down 1.8 %

Shares of CNI stock traded down $2.23 on Tuesday, reaching $119.96. 1,311,248 shares of the stock were exchanged, compared to its average volume of 1,062,287. The company has a market capitalization of $75.86 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 2.29 and a beta of 0.89. The business’s 50 day moving average price is $121.97 and its 200 day moving average price is $125.70. The company has a current ratio of 0.60, a quick ratio of 0.46 and a debt-to-equity ratio of 0.84. 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 released its quarterly earnings data 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. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.16 billion. As a group, sell-side analysts expect that Canadian National Railway will post 5.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNI. National Bank Financial raised shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 27th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. Barclays cut their target price on Canadian National Railway from $130.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Sanford C. Bernstein lowered Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $146.25 to $130.67 in a research report on Monday, July 8th. Finally, Susquehanna dropped their price objective on Canadian National Railway from $142.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Eighteen investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $148.08.

Canadian National Railway Company 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.