Canadian National Railway (CNI) Stake Decreased by Ashmore Wealth Management LLC

Ashmore Wealth Management LLC reduced its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 7.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,696 shares of the transportation company’s stock after selling 13,561 shares during the period. Canadian National Railway accounts for about 0.8% of Ashmore Wealth Management LLC’s investment portfolio, making the stock its 26th largest position. Ashmore Wealth Management LLC’s holdings in Canadian National Railway were worth $15,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Advisor Partners LLC raised its holdings in Canadian National Railway by 17.4% in the third quarter. Advisor Partners LLC now owns 3,998 shares of the transportation company’s stock valued at $359,000 after buying an additional 593 shares during the period. Baskin Financial Services Inc. raised its stake in shares of Canadian National Railway by 6.5% during the third quarter. Baskin Financial Services Inc. now owns 10,722 shares of the transportation company’s stock valued at $961,000 after purchasing an additional 650 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Canadian National Railway by 0.6% during the third quarter. Janney Montgomery Scott LLC now owns 107,509 shares of the transportation company’s stock valued at $9,654,000 after purchasing an additional 660 shares during the period. Gluskin Sheff & Assoc Inc. raised its stake in shares of Canadian National Railway by 4.4% during the third quarter. Gluskin Sheff & Assoc Inc. now owns 15,912 shares of the transportation company’s stock valued at $1,428,000 after purchasing an additional 670 shares during the period. Finally, SRS Capital Advisors Inc. raised its stake in shares of Canadian National Railway by 30.8% during the second quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the transportation company’s stock valued at $239,000 after purchasing an additional 690 shares during the period. Institutional investors and hedge funds own 53.77% of the company’s stock.

CNI opened at $85.82 on Monday. The company has a market cap of $62.61 billion, a PE ratio of 22.35, a PEG ratio of 2.20 and a beta of 0.97. Canadian National Railway has a 52-week low of $70.59 and a 52-week high of $91.90. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 0.72.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 23rd. The transportation company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.38. Canadian National Railway had a net margin of 42.06% and a return on equity of 22.67%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the company earned $1.31 earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. Equities research analysts predict that Canadian National Railway will post 4.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 7th will be given a dividend of $0.3477 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.39 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.34. Canadian National Railway’s dividend payout ratio (DPR) is presently 35.94%.

A number of analysts have recently issued reports on the stock. Cowen reiterated an “outperform” rating and set a $96.00 price objective (down previously from $98.00) on shares of Canadian National Railway in a research note on Wednesday, October 24th. Macquarie upgraded shares of Canadian National Railway from a “neutral” rating to an “outperform” rating in a research note on Thursday, September 20th. Zacks Investment Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday, August 7th. Barclays reiterated a “hold” rating and set a $88.00 price objective on shares of Canadian National Railway in a research note on Wednesday, September 26th. Finally, BMO Capital Markets lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 5th. They noted that the move was a valuation call. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Canadian National Railway has a consensus rating of “Hold” and an average target price of $91.53.

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Canadian National Railway Company Profile

Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.

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

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