Pinnacle Associates Ltd. Has $13.32 Million Stock Holdings in Canadian National Railway Company $CNI

Pinnacle Associates Ltd. lessened its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 128,039 shares of the transportation company’s stock after selling 4,315 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Canadian National Railway were worth $13,321,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Savvy Advisors Inc. boosted its holdings in shares of Canadian National Railway by 14.8% during the 2nd quarter. Savvy Advisors Inc. now owns 4,610 shares of the transportation company’s stock worth $480,000 after buying an additional 593 shares during the period. Assetmark Inc. grew its stake in shares of Canadian National Railway by 11.1% in the second quarter. Assetmark Inc. now owns 5,090 shares of the transportation company’s stock worth $530,000 after acquiring an additional 510 shares during the last quarter. Arkadios Wealth Advisors increased its position in Canadian National Railway by 25.9% during the second quarter. Arkadios Wealth Advisors now owns 4,046 shares of the transportation company’s stock worth $421,000 after acquiring an additional 833 shares during the period. Motley Fool Wealth Management LLC increased its holdings in shares of Canadian National Railway by 17.4% during the 2nd quarter. Motley Fool Wealth Management LLC now owns 74,527 shares of the transportation company’s stock worth $7,754,000 after purchasing an additional 11,053 shares during the period. Finally, Logan Capital Management Inc. raised its position in shares of Canadian National Railway by 12.3% during the second quarter. Logan Capital Management Inc. now owns 29,754 shares of the transportation company’s stock valued at $3,096,000 after buying an additional 3,268 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

CNI opened at $93.49 on Friday. Canadian National Railway Company has a 1 year low of $91.07 and a 1 year high of $114.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58. The business’s 50-day moving average price is $95.02 and its two-hundred day moving average price is $98.75. The company has a market capitalization of $57.84 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 2.13 and a beta of 0.96.

Analyst Upgrades and Downgrades

A number of analysts have commented on CNI shares. Wells Fargo & Company reduced their price objective on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, October 6th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Canadian National Railway in a research report on Wednesday, July 23rd. Susquehanna dropped their price target on Canadian National Railway from $120.00 to $115.00 and set a “positive” rating for the company in a report on Thursday, September 25th. Raymond James Financial upgraded Canadian National Railway from a “market perform” rating to an “outperform” rating in a report on Thursday, July 17th. Finally, Evercore ISI lowered shares of Canadian National Railway from an “outperform” rating to an “in-line” rating and set a $105.00 price objective on the stock. in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.90.

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.