TCI Fund Management Ltd. Reduces Stock Holdings in Canadian National Railway (NYSE:CNI)

TCI Fund Management Ltd. lessened its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 16.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,693,764 shares of the transportation company’s stock after selling 5,743,513 shares during the period. Canadian National Railway accounts for approximately 7.1% of TCI Fund Management Ltd.’s holdings, making the stock its 8th biggest position. TCI Fund Management Ltd.’s holdings in Canadian National Railway were worth $3,013,663,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CNI. Quintet Private Bank Europe S.A. bought a new position in Canadian National Railway in the 4th quarter worth about $25,000. Arlington Trust Co LLC bought a new stake in Canadian National Railway during the 4th quarter valued at about $30,000. Lee Danner & Bass Inc. bought a new stake in Canadian National Railway during the 4th quarter valued at about $30,000. Addison Advisors LLC increased its stake in Canadian National Railway by 80.2% during the 4th quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 142 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Canadian National Railway by 48.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of analyst reports. Raymond James lowered shares of Canadian National Railway from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Jefferies Financial Group reduced their price objective on shares of Canadian National Railway from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Evercore ISI lowered their target price on shares of Canadian National Railway from $119.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, Bank of America upped their target price on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Canadian National Railway has an average rating of “Moderate Buy” and a consensus target price of $119.52.

Canadian National Railway Price Performance

NYSE CNI opened at $108.08 on Friday. Canadian National Railway has a 52 week low of $91.65 and a 52 week high of $129.18. The firm has a market capitalization of $67.93 billion, a P/E ratio of 21.11, a PEG ratio of 1.95 and a beta of 0.97. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The company has a 50-day moving average price of $98.79 and a 200-day moving average price of $102.51.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.26 by $0.03. Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Company 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.