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

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 7.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,075 shares of the transportation company’s stock after selling 6,343 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Canadian National Railway were worth $7,928,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Addison Advisors LLC raised its position in Canadian National Railway by 124.0% in the second quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock worth $28,000 after acquiring an additional 150 shares during the period. Hollencrest Capital Management bought a new stake in shares of Canadian National Railway in the 3rd quarter worth approximately $28,000. First Horizon Corp purchased a new position in Canadian National Railway in the third quarter valued at approximately $30,000. Costello Asset Management INC lifted its stake in Canadian National Railway by 83.3% in the third quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 150 shares during the last quarter. Finally, Curio Wealth LLC grew its holdings in Canadian National Railway by 31,600.0% during the second quarter. Curio Wealth LLC now owns 317 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 316 shares during the period. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

CNI stock opened at $109.49 on Friday. The stock has a market capitalization of $67.13 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.27 and a beta of 0.94. The firm’s 50-day moving average price is $100.30 and its two-hundred day moving average price is $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. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $109.90.

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

Canadian National Railway Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CNI. Susquehanna boosted their target price on Canadian National Railway from $115.00 to $116.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Citigroup decreased their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Vertical Research upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Stephens dropped their price objective on shares of 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, Evercore reduced their target price on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a research note on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.91.

About Canadian National Railway

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.