Forsta AP Fonden trimmed its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 242,109 shares of the transportation company’s stock after selling 32,100 shares during the quarter. Forsta AP Fonden’s holdings in Canadian National Railway were worth $19,791,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Canadian National Railway by 8.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,396,008 shares of the transportation company’s stock worth $604,578,000 after acquiring an additional 598,397 shares during the period. Morgan Stanley increased its stake in shares of Canadian National Railway by 4.8% during the second quarter. Morgan Stanley now owns 5,523,209 shares of the transportation company’s stock worth $451,522,000 after acquiring an additional 251,353 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Canadian National Railway by 0.4% during the first quarter. Great West Life Assurance Co. Can now owns 4,921,321 shares of the transportation company’s stock worth $359,222,000 after acquiring an additional 20,088 shares during the period. Toronto Dominion Bank increased its stake in shares of Canadian National Railway by 116.1% during the second quarter. Toronto Dominion Bank now owns 4,630,111 shares of the transportation company’s stock worth $376,225,000 after acquiring an additional 2,487,700 shares during the period. Finally, Fiera Capital Corp grew its position in Canadian National Railway by 43.7% during the second quarter. Fiera Capital Corp now owns 4,480,073 shares of the transportation company’s stock worth $366,483,000 after buying an additional 1,361,814 shares during the period. Institutional investors and hedge funds own 54.17% of the company’s stock.

Several research analysts have weighed in on CNI shares. Zacks Investment Research upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $101.00 target price on the stock in a research report on Monday, July 30th. BMO Capital Markets lowered shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Cowen restated a “buy” rating and set a $98.00 target price on shares of Canadian National Railway in a research report on Wednesday, July 25th. Citigroup upped their target price on shares of Canadian National Railway from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Finally, Loop Capital restated a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, July 25th. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Canadian National Railway presently has a consensus rating of “Hold” and an average price target of $89.80.

CNI stock opened at $86.94 on Friday. The company has a market capitalization of $63.33 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 2.23 and a beta of 1.05. Canadian National Railway has a 12 month low of $70.59 and a 12 month high of $90.57. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.54.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, July 24th. The transportation company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.05 by $0.46. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.57 billion. Canadian National Railway had a net margin of 42.08% and a return on equity of 22.90%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.34 earnings per share. equities analysts anticipate that Canadian National Railway will post 4.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be given a $0.3429 dividend. The ex-dividend date is Thursday, September 6th. This represents a $1.37 annualized dividend and a dividend yield of 1.58%. Canadian National Railway’s dividend payout ratio is presently 36.46%.

Canadian National Railway 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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