Scheer Rowlett & Associates Investment Management Ltd. lowered its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 12.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 833,021 shares of the transportation company’s stock after selling 121,595 shares during the quarter. Canadian National Railway makes up 6.6% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 5th largest position. Scheer Rowlett & Associates Investment Management Ltd. owned about 0.12% of Canadian National Railway worth $65,172,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Canadian National Railway by 26.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 14,974 shares of the transportation company’s stock worth $1,354,000 after purchasing an additional 3,087 shares in the last quarter. Broderick Brian C grew its holdings in shares of Canadian National Railway by 2.3% during the first quarter. Broderick Brian C now owns 104,001 shares of the transportation company’s stock worth $8,075,000 after buying an additional 2,386 shares in the last quarter. Summit Global Investments raised its position in shares of Canadian National Railway by 17.0% in the fourth quarter. Summit Global Investments now owns 8,895 shares of the transportation company’s stock valued at $805,000 after buying an additional 1,290 shares during the last quarter. First Mercantile Trust Co. lifted its stake in shares of Canadian National Railway by 6.5% in the fourth quarter. First Mercantile Trust Co. now owns 19,695 shares of the transportation company’s stock worth $1,781,000 after buying an additional 1,200 shares in the last quarter. Finally, State Street Corp boosted its position in Canadian National Railway by 19.9% during the third quarter. State Street Corp now owns 116,671 shares of the transportation company’s stock worth $10,484,000 after acquiring an additional 19,329 shares during the last quarter. 55.08% of the stock is currently owned by institutional investors.

Shares of CNI stock traded up $2.26 on Wednesday, hitting $89.88. The stock had a trading volume of 380,670 shares, compared to its average volume of 888,221. The company’s 50 day moving average price is $81.02 and its 200-day moving average price is $86.27. Canadian National Railway has a 1 year low of $65.13 and a 1 year high of $96.53. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.76 and a quick ratio of 0.62. The firm has a market capitalization of $61.63 billion, a P/E ratio of 19.18, a P/E/G ratio of 3.31 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Monday, April 27th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.46. Canadian National Railway had a net margin of 29.76% and a return on equity of 22.99%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts forecast that Canadian National Railway will post 3.82 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a dividend of $0.4097 per share. This represents a $1.64 annualized dividend and a yield of 1.82%. The ex-dividend date is Monday, June 8th. Canadian National Railway’s payout ratio is currently 38.04%.

A number of analysts have commented on CNI shares. Cowen reiterated an “outperform” rating and issued a $85.00 price objective (down previously from $89.00) on shares of Canadian National Railway in a report on Tuesday, April 28th. Credit Suisse Group increased their price target on Canadian National Railway from $84.00 to $86.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Scotiabank boosted their price objective on Canadian National Railway from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Stephens raised their target price on Canadian National Railway from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Finally, Zacks Investment Research raised shares of Canadian National Railway from a “sell” rating to a “hold” rating and set a $90.00 price target on the stock in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $94.61.

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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