Pictet Asset Management Ltd. Sells 1,900 Shares of Canadian National Railway (NYSE:CNI)

Pictet Asset Management Ltd. decreased its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 285,736 shares of the transportation company’s stock after selling 1,900 shares during the period. Pictet Asset Management Ltd.’s holdings in Canadian National Railway were worth $26,502,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CNI. Prime Capital Investment Advisors LLC acquired a new stake in Canadian National Railway in the 2nd quarter worth about $34,000. Tortoise Investment Management LLC acquired a new stake in Canadian National Railway in the 1st quarter worth about $36,000. CWM LLC raised its stake in Canadian National Railway by 96.0% in the 2nd quarter. CWM LLC now owns 437 shares of the transportation company’s stock worth $40,000 after purchasing an additional 214 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in Canadian National Railway in the 1st quarter worth about $41,000. Finally, Centersquare Investment Management LLC acquired a new stake in Canadian National Railway in the 1st quarter worth about $49,000. 53.10% of the stock is owned by institutional investors and hedge funds.

Several analysts have weighed in on CNI shares. Goldman Sachs Group started coverage on shares of Canadian National Railway in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $97.00 price objective for the company. Raymond James cut shares of Canadian National Railway from an “outperform” rating to a “market perform” rating in a research report on Friday. Credit Suisse Group boosted their target price on shares of Canadian National Railway from $101.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, ValuEngine cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $98.78.

Shares of NYSE:CNI traded up $0.34 during midday trading on Friday, hitting $92.70. The stock had a trading volume of 51,412 shares, compared to its average volume of 657,085. The company’s 50-day moving average price is $92.66 and its 200-day moving average price is $91.41. The company has a market capitalization of $67.14 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.66. Canadian National Railway has a fifty-two week low of $70.36 and a fifty-two week high of $96.49.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Tuesday, July 23rd. The transportation company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.26 by $0.47. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Canadian National Railway had a net margin of 29.50% and a return on equity of 24.15%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.51 EPS. Research analysts expect that Canadian National Railway will post 4.7 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $0.411 dividend. The ex-dividend date is Friday, September 6th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 1.77%. Canadian National Railway’s payout ratio is presently 38.94%.

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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