Great Lakes Advisors LLC Reduces Stock Position in Canadian National Railway Company $CNI

Great Lakes Advisors LLC lessened its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,196 shares of the transportation company’s stock after selling 13,330 shares during the period. Great Lakes Advisors LLC’s holdings in Canadian National Railway were worth $12,938,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CNI. TD Waterhouse Canada Inc. increased its stake in shares of Canadian National Railway by 1.7% during the third quarter. TD Waterhouse Canada Inc. now owns 1,875,427 shares of the transportation company’s stock valued at $176,926,000 after buying an additional 30,645 shares during the period. Farrow Financial Inc. increased its position in Canadian National Railway by 2.7% during the 3rd quarter. Farrow Financial Inc. now owns 20,188 shares of the transportation company’s stock valued at $1,904,000 after purchasing an additional 523 shares during the period. Markel Group Inc. purchased a new stake in shares of Canadian National Railway in the 3rd quarter worth about $2,358,000. Nicola Wealth Management LTD. boosted its stake in shares of Canadian National Railway by 13.9% during the 3rd quarter. Nicola Wealth Management LTD. now owns 198,800 shares of the transportation company’s stock valued at $18,749,000 after purchasing an additional 24,200 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. increased its position in shares of Canadian National Railway by 23.3% during the third quarter. Lorne Steinberg Wealth Management Inc. now owns 83,095 shares of the transportation company’s stock valued at $7,834,000 after buying an additional 15,715 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Canadian National Railway from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Wells Fargo & Company lowered their target price on Canadian National Railway from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, October 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Canadian National Railway in a research report on Wednesday, October 8th. CIBC upgraded Canadian National Railway from a “neutral” rating to an “outperformer” rating and increased their price objective for the stock from $146.00 to $151.00 in a report on Friday, November 28th. Finally, Evercore ISI raised their price objective on Canadian National Railway from $98.00 to $103.00 and gave the company an “in-line” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Canadian National Railway has an average rating of “Moderate Buy” and an average price target of $117.64.

Canadian National Railway Trading Up 2.5%

Canadian National Railway stock opened at $100.99 on Friday. Canadian National Railway Company has a 12 month low of $90.74 and a 12 month high of $108.75. The company has a market capitalization of $62.05 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The business’s fifty day simple moving average is $98.04 and its two-hundred day simple moving average is $96.26. The company has a current ratio of 0.60, a quick ratio of 0.42 and a debt-to-equity ratio of 0.92.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Friday, October 31st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.05. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $4.15 billion. Canadian National Railway had a return on equity of 21.50% and a net margin of 26.86%.Canadian National Railway’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 EPS. As a group, equities analysts predict that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.