Cidel Asset Management Inc. Has $48.16 Million Stake in Canadian National Railway Company $CNI

Cidel Asset Management Inc. cut its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 21.7% during the 2nd quarter, Holdings Channel reports. The firm owned 403,673 shares of the transportation company’s stock after selling 111,684 shares during the quarter. Canadian National Railway comprises 2.3% of Cidel Asset Management Inc.’s portfolio, making the stock its 8th biggest holding. Cidel Asset Management Inc.’s holdings in Canadian National Railway were worth $48,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CNI. Pin Oak Investment Advisors Inc. bought a new position in shares of Canadian National Railway during the 2nd quarter worth approximately $27,000. Curio Wealth LLC acquired a new position in shares of Canadian National Railway in the fourth quarter valued at approximately $31,000. MidFirst Bank acquired a new position in shares of Canadian National Railway in the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Canadian National Railway by 378.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 354 shares of the transportation company’s stock worth $35,000 after purchasing an additional 280 shares during the period. Finally, MBM Wealth Consultants LLC acquired a new stake in Canadian National Railway during the 1st quarter worth approximately $37,000. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Performance

CNI opened at $122.79 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.61 and a current ratio of 0.87. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $131.55. The firm has a market cap of $74.31 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 2.20 and a beta of 0.94. The business’s fifty day moving average is $125.86 and its 200-day moving average is $116.44.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Friday, July 24th. The transportation company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Canadian National Railway had a net margin of 26.92% and a return on equity of 22.22%. Canadian National Railway’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.87 earnings per share. Sell-side analysts expect that Canadian National Railway Company will post 5.82 EPS for the current fiscal year.

Canadian National Railway Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 8th will be paid a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 8th. Canadian National Railway’s dividend payout ratio (DPR) is 45.92%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Argus reiterated a “hold” rating on shares of Canadian National Railway in a research report on Monday, August 31st. Wells Fargo & Company raised their price target on shares of Canadian National Railway from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Evercore raised shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price objective for the company in a report on Thursday, June 25th. Citigroup increased their target price on shares of Canadian National Railway from $124.00 to $141.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Susquehanna restated a “neutral” rating and set a $140.00 target price (up from $138.00) on shares of Canadian National Railway in a research report on Tuesday, July 14th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.40.

About Canadian National Railway

Canadian National Railway Company (NYSE:CNI) is a transportation and logistics company that operates a major freight railway network across Canada and the United States. Its rail system connects the Atlantic, Pacific and Gulf coasts with major industrial centers, ports and distribution markets, supporting trade across North America.

CN transports a diverse range of products, including grain and fertilizers, coal and minerals, forest products, petroleum and chemicals, metals, automotive goods, and consumer and manufactured products.