Canadian National Railway Company $CNI Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 18.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,614 shares of the transportation company’s stock after selling 5,468 shares during the quarter. Corient Private Wealth LLC’s holdings in Canadian National Railway were worth $2,335,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its holdings in Canadian National Railway by 639,137.0% in the 3rd quarter. Lazard Asset Management LLC now owns 8,955,711 shares of the transportation company’s stock valued at $844,353,000 after buying an additional 8,954,310 shares in the last quarter. Norges Bank purchased a new position in shares of Canadian National Railway during the 4th quarter worth $570,161,000. FIL Ltd boosted its position in shares of Canadian National Railway by 49.5% during the 4th quarter. FIL Ltd now owns 15,745,744 shares of the transportation company’s stock valued at $1,557,309,000 after acquiring an additional 5,210,403 shares during the last quarter. Quadrature Capital Ltd grew its holdings in shares of Canadian National Railway by 1,693.5% in the third quarter. Quadrature Capital Ltd now owns 1,739,700 shares of the transportation company’s stock valued at $164,043,000 after purchasing an additional 1,642,700 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Canadian National Railway by 6,329.2% in the fourth quarter. AQR Capital Management LLC now owns 1,234,030 shares of the transportation company’s stock valued at $122,050,000 after purchasing an additional 1,214,836 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

CNI has been the topic of a number of analyst reports. Canadian Imperial Bank of Commerce lifted their target price on shares of Canadian National Railway from C$182.00 to C$185.00 and gave the stock an “outperformer” rating in a research note on Thursday. Citigroup increased their price target on shares of Canadian National Railway from $123.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Evercore raised shares of Canadian National Railway from an “in-line” rating to an “outperform” rating and set a $124.00 price target on the stock in a research report on Thursday. Bank of America upped their price objective on Canadian National Railway from $132.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings upgraded Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 23rd. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and a consensus target price of $126.12.

Canadian National Railway Trading Up 0.0%

NYSE CNI opened at $120.61 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. The stock has a market capitalization of $73.18 billion, a P/E ratio of 21.93, a PEG ratio of 2.27 and a beta of 0.96. The firm’s 50-day moving average is $114.95 and its two-hundred day moving average is $107.05. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $122.48.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.31. Canadian National Railway had a net margin of 27.22% and a return on equity of 21.90%. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the business earned $1.85 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. On average, sell-side analysts anticipate that Canadian National Railway Company will post 5.75 earnings per share for the current year.

Canadian National Railway Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.0%. Canadian National Railway’s dividend payout ratio (DPR) is presently 48.55%.

Canadian National Railway Company Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.