Skandinaviska Enskilda Banken AB publ Sells 6,343 Shares of Canadian National Railway Company $CNI

Skandinaviska Enskilda Banken AB publ cut its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 7.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 84,075 shares of the transportation company’s stock after selling 6,343 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Canadian National Railway were worth $7,928,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in Canadian National Railway in the first quarter worth $311,000. Focus Partners Wealth grew its position in shares of Canadian National Railway by 11.1% in the 1st quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after buying an additional 1,146 shares during the period. Yousif Capital Management LLC increased its stake in shares of Canadian National Railway by 9.2% in the 2nd quarter. Yousif Capital Management LLC now owns 6,226 shares of the transportation company’s stock worth $648,000 after acquiring an additional 525 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in Canadian National Railway during the 2nd quarter valued at about $202,000. Finally, D.A. Davidson & CO. boosted its stake in Canadian National Railway by 5.3% during the second quarter. D.A. Davidson & CO. now owns 2,374 shares of the transportation company’s stock worth $247,000 after acquiring an additional 119 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 1.5%

Canadian National Railway stock opened at $109.49 on Friday. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $109.90. The stock has a fifty day simple moving average of $100.30 and a two-hundred day simple moving average of $96.83. The company has a current ratio of 0.67, a quick ratio of 0.47 and a debt-to-equity ratio of 0.94. The firm has a market cap of $67.13 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.27 and a beta of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The company had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the firm posted $1.82 earnings per share. Canadian National Railway’s revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s payout ratio is 46.59%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CNI shares. Susquehanna raised their target price on shares of Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Evercore cut their price target on Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a research note on Monday, February 2nd. Citigroup reduced their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Stephens dropped their target price on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Ten research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.91.

Canadian National Railway 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.