D.B. Root & Company LLC Lowers Stock Position in Canadian National Railway (NYSE:CNI)

D.B. Root & Company LLC cut its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.8% in the fourth quarter, HoldingsChannel reports. The fund owned 2,698 shares of the transportation company’s stock after selling 107 shares during the period. D.B. Root & Company LLC’s holdings in Canadian National Railway were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its position in shares of Canadian National Railway by 46.5% in the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after purchasing an additional 2,137,948 shares during the period. Canoe Financial LP purchased a new position in shares of Canadian National Railway during the 4th quarter valued at $216,943,000. Point72 Asset Management L.P. bought a new position in Canadian National Railway in the 3rd quarter worth $159,907,000. Wellington Management Group LLP boosted its holdings in Canadian National Railway by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after buying an additional 790,420 shares during the period. Finally, Toronto Dominion Bank increased its stake in Canadian National Railway by 64.5% in the 3rd quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock worth $174,813,000 after buying an additional 584,832 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CNI. The Goldman Sachs Group dropped their price objective on Canadian National Railway from $131.00 to $124.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Stephens restated an “equal weight” rating and issued a $116.00 price target on shares of Canadian National Railway in a research note on Wednesday, October 23rd. Veritas upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 23rd. Barclays lowered their target price on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.02.

Canadian National Railway Stock Up 0.7 %

Shares of NYSE:CNI opened at $104.43 on Thursday. The company has a market cap of $65.67 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.34 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. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $104.94 and a 200 day moving average price of $111.55.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.08 billion. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company earned $1.26 EPS. As a group, equities research analysts predict that Canadian National Railway will post 5.15 earnings per share for the current year.

Canadian National Railway Profile

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.