Gold Investment Management Ltd. Sells 253 Shares of Canadian National Railway (NYSE:CNI)

Gold Investment Management Ltd. cut its holdings in shares of Canadian National Railway (NYSE:CNIFree Report) (TSE:CNR) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,882 shares of the transportation company’s stock after selling 253 shares during the quarter. Canadian National Railway makes up 2.7% of Gold Investment Management Ltd.’s portfolio, making the stock its 4th largest position. Gold Investment Management Ltd.’s holdings in Canadian National Railway were worth $6,702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mediolanum International Funds Ltd bought a new position in Canadian National Railway in the 1st quarter valued at about $4,451,000. Callan Capital LLC boosted its holdings in shares of Canadian National Railway by 44.2% in the 1st quarter. Callan Capital LLC now owns 2,486 shares of the transportation company’s stock valued at $327,000 after purchasing an additional 762 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC increased its stake in shares of Canadian National Railway by 0.4% in the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 64,181 shares of the transportation company’s stock valued at $8,453,000 after purchasing an additional 250 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Canadian National Railway by 7.8% during the 1st quarter. Whittier Trust Co. now owns 3,768 shares of the transportation company’s stock worth $496,000 after buying an additional 273 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Canadian National Railway by 22.6% during the 1st quarter. Jennison Associates LLC now owns 141,943 shares of the transportation company’s stock worth $18,695,000 after buying an additional 26,204 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company began coverage on Canadian National Railway in a research report on Friday, June 7th. They issued an “equal weight” rating and a $130.00 target price on the stock. Stephens reiterated an “equal weight” rating and issued a $140.00 price target on shares of Canadian National Railway in a research report on Wednesday, April 24th. Sanford C. Bernstein downgraded Canadian National Railway from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $146.25 to $130.67 in a research report on Monday. StockNews.com lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, Susquehanna decreased their price objective on shares of Canadian National Railway from $142.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, June 25th. Nineteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and an average target price of $148.03.

View Our Latest Report on Canadian National Railway

Canadian National Railway Stock Up 2.6 %

NYSE CNI traded up $2.97 on Wednesday, reaching $118.54. The company had a trading volume of 1,056,608 shares, compared to its average volume of 1,068,638. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84. The company’s fifty day moving average is $122.75 and its 200 day moving average is $125.97. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The stock has a market capitalization of $75.21 billion, a P/E ratio of 18.91, a P/E/G ratio of 2.05 and a beta of 0.89.

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. Sell-side analysts anticipate that Canadian National Railway will post 5.89 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $0.625 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.50 annualized dividend and a dividend yield of 2.11%. Canadian National Railway’s payout ratio is currently 39.08%.

About Canadian National Railway

(Free Report)

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.

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Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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