Bank of Nova Scotia Has $279.92 Million Holdings in Canadian National Railway (NYSE:CNI)

Bank of Nova Scotia lessened its holdings in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,757,030 shares of the transportation company's stock after selling 160,874 shares during the quarter. Bank of Nova Scotia owned 0.44% of Canadian National Railway worth $279,922,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CNI. Norges Bank bought a new position in Canadian National Railway during the 4th quarter worth $563,048,000. Canoe Financial LP acquired a new stake in shares of Canadian National Railway during the 4th quarter worth $216,943,000. Arrowstreet Capital Limited Partnership increased its position in shares of Canadian National Railway by 29.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company's stock worth $488,488,000 after purchasing an additional 1,102,977 shares during the period. Geode Capital Management LLC raised its stake in Canadian National Railway by 29.0% in the fourth quarter. Geode Capital Management LLC now owns 3,306,192 shares of the transportation company's stock valued at $340,987,000 after purchasing an additional 743,712 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in Canadian National Railway by 64.5% in the third quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company's stock valued at $174,813,000 after purchasing an additional 584,832 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts have commented on CNI shares. Loop Capital lowered shares of Canadian National Railway from a "hold" rating to a "sell" rating in a report on Monday, February 3rd. Evercore ISI upgraded shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Thursday, December 19th. Susquehanna lowered their price objective on shares of Canadian National Railway from $115.00 to $113.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Stifel Nicolaus raised their target price on Canadian National Railway from $120.00 to $125.00 and gave the company a "buy" rating in a report on Friday, January 31st. Finally, Bank of America decreased their price target on Canadian National Railway from $119.00 to $112.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Canadian National Railway currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.19.

Canadian National Railway Trading Up 4.1 %

Shares of NYSE:CNI traded up $3.96 during midday trading on Friday, hitting $99.77. 1,712,787 shares of the stock were exchanged, compared to its average volume of 1,275,789. The business's 50-day moving average price is $99.36 and its 200 day moving average price is $104.82. The stock has a market capitalization of $62.70 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.95 and a beta of 0.93. Canadian National Railway has a 12 month low of $91.65 and a 12 month high of $130.63. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last posted its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. Analysts predict that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.6159 per share. This is a positive change from Canadian National Railway's previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a yield of 2.47%. The ex-dividend date was Monday, March 10th. Canadian National Railway's dividend payout ratio (DPR) is currently 47.66%.

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.