Rempart Asset Management Inc. Has $18.94 Million Stake in Canadian National Railway (NYSE:CNI)

Rempart Asset Management Inc. decreased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 186,906 shares of the transportation company’s stock after selling 1,150 shares during the quarter. Canadian National Railway comprises 3.8% of Rempart Asset Management Inc.’s investment portfolio, making the stock its 16th largest holding. Rempart Asset Management Inc.’s holdings in Canadian National Railway were worth $18,937,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd lifted its holdings in Canadian National Railway by 43.3% in the 3rd quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock worth $1,822,000 after purchasing an additional 4,698 shares during the last quarter. Unigestion Holding SA grew its stake in Canadian National Railway by 363.6% in the 3rd quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock valued at $18,012,000 after buying an additional 120,687 shares during the last quarter. Principal Financial Group Inc. lifted its position in Canadian National Railway by 29.6% during the 3rd quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock worth $10,820,000 after acquiring an additional 21,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Canadian National Railway by 5.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after acquiring an additional 202,303 shares during the period. Finally, Partners Group Holding AG grew its position in Canadian National Railway by 16.3% during the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock worth $47,571,000 after buying an additional 56,849 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CNI. Bank of America cut Canadian National Railway from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $129.00 to $122.00 in a research report on Friday, October 4th. The Goldman Sachs Group reduced their price objective on shares of Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Barclays upped their price objective on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Citigroup raised Canadian National Railway from a “neutral” rating to a “buy” rating and boosted their price target for the company from $126.00 to $130.00 in a research note on Tuesday, November 12th. Finally, Stifel Nicolaus lifted their price objective on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Canadian National Railway presently has an average rating of “Hold” and an average target price of $125.02.

Canadian National Railway Trading Down 1.4 %

Shares of NYSE CNI traded down $1.51 during midday trading on Wednesday, reaching $102.83. 182,603 shares of the stock were exchanged, compared to its average volume of 948,246. The business has a 50-day simple moving average of $106.84 and a two-hundred day simple moving average of $112.77. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.64 and a quick ratio of 0.49. The company has a market capitalization of $64.69 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 2.43 and a beta of 0.91. Canadian National Railway has a 12 month low of $98.96 and a 12 month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Tuesday, October 22nd. The transportation company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. Canadian National Railway had a net margin of 31.65% and a return on equity of 23.62%. The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. Canadian National Railway’s revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts expect that Canadian National Railway will post 5.31 EPS for the current year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a dividend of $0.6108 per share. This represents a $2.44 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Monday, December 9th. Canadian National Railway’s payout ratio is presently 38.14%.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.