Nuveen Asset Management LLC Has $74.48 Million Stock Position in Canadian National Railway (NYSE:CNI)

Nuveen Asset Management LLC reduced its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 733,818 shares of the transportation company’s stock after selling 46,512 shares during the quarter. Nuveen Asset Management LLC’s holdings in Canadian National Railway were worth $74,479,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sustainable Insight Capital Management LLC acquired a new position in shares of Canadian National Railway during the fourth quarter valued at about $436,000. CIBC Asset Management Inc grew its holdings in shares of Canadian National Railway by 12.6% during the fourth quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company’s stock valued at $519,843,000 after buying an additional 571,967 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Canadian National Railway by 26.5% during the fourth quarter. Blue Trust Inc. now owns 1,646 shares of the transportation company’s stock valued at $167,000 after purchasing an additional 345 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Canadian National Railway by 29.6% during the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock valued at $10,820,000 after purchasing an additional 21,100 shares in the last quarter. Finally, Addenda Capital Inc. lifted its position in shares of Canadian National Railway by 1.5% during the fourth quarter. Addenda Capital Inc. now owns 455,201 shares of the transportation company’s stock valued at $46,207,000 after purchasing an additional 6,647 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of CNI stock opened at $108.08 on Friday. The firm has a market cap of $67.93 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.95 and a beta of 0.97. 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 has a 52 week low of $91.65 and a 52 week high of $129.18. The firm’s 50-day simple moving average is $98.79 and its two-hundred day simple moving average is $102.51.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Thursday, May 1st. The transportation company reported $1.29 earnings per share (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 company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same quarter in the previous year, the firm posted $1.72 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CNI shares. Raymond James lowered shares of Canadian National Railway from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Citigroup dropped their price target on shares of Canadian National Railway from $122.00 to $114.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada dropped their price target on shares of Canadian National Railway from $165.00 to $163.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Evercore ISI dropped their price target on shares of Canadian National Railway from $119.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.52.

About Canadian National Railway

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.