First City Capital Management Inc. lessened its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 82.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,280 shares of the transportation company’s stock after selling 19,671 shares during the period. First City Capital Management Inc.’s holdings in Canadian National Railway were worth $350,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. raised its position in Canadian National Railway by 8.8% in 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 purchasing an additional 598,397 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings 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 buying an additional 20,088 shares in the last quarter. Toronto Dominion Bank increased its holdings 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 buying an additional 2,487,700 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of 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 in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Canadian National Railway by 4.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,342,548 shares of the transportation company’s stock worth $191,627,000 after buying an additional 98,241 shares in the last quarter. 54.17% of the stock is owned by hedge funds and other institutional investors.

Shares of Canadian National Railway stock opened at $87.42 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.64 and a quick ratio of 0.52. The company has a market capitalization of $65.27 billion, a P/E ratio of 22.51, a P/E/G ratio of 2.29 and a beta of 1.05. Canadian National Railway has a fifty-two week low of $70.59 and a fifty-two week high of $90.57.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, July 24th. The transportation company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.46. The business had revenue of $3.63 billion during 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%. Canadian National Railway’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 earnings per share. equities analysts predict that Canadian National Railway will post 4.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be issued a $0.3429 dividend. This represents a $1.37 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, September 6th. Canadian National Railway’s dividend payout ratio is currently 36.46%.

Several research firms have recently weighed in on CNI. Loop Capital reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 25th. Barclays dropped their price objective on shares of Canadian National Railway from $80.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, July 25th. Zacks Investment Research raised shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $101.00 price objective for the company in a report on Monday, July 30th. ValuEngine lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Cowen reaffirmed a “buy” rating and set a $98.00 price objective on shares of Canadian National Railway in a report on Wednesday, July 25th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $89.80.

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.

Featured Story: Fundamental Analysis and Individual Investors

Want to see what other hedge funds are holding CNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian National Railway (NYSE:CNI) (TSE:CNR).

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

Receive News & Ratings for Canadian National Railway Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian National Railway and related companies with MarketBeat.com's FREE daily email newsletter.