Atria Wealth Solutions Inc. has decreased its stake in Canadian National Railway (CNI) by 21.3% during the first quarter, according to the company’s recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor sold 2,242 shares of the transportation company’s stock, leaving them with 8,268 shares worth $984,000 at the time of the filing. Other large investors, such as Norges Bank, Arrowstreet Capital Limited Partnership, Price T Rowe Associates Inc. MD, Goldman Sachs Group Inc., and Caisse DE Depot ET Placement DU Quebec, have also made modifications to their holdings of CNI.
Several research analyst reports have been issued on CNI. Desjardins lowered their price target on Canadian National Railway, while Argus cut their rating from “buy” to “hold”. Citigroup and BMO Capital Markets also reduced their price targets, and National Bank Financial lowered their target price. Currently, the consensus rating for CNI is “Hold” with a consensus target price of $145.71.
Canadian National Railway saw a 0.8% increase in the stock, opening at $116.40. The company’s 50-day moving average is $115.14, while the 200-day moving average is $116.95. CNI has a market cap of $76.08 billion, a P/E ratio of 19.93, a PEG ratio of 3.12, and a beta of 0.91. The company’s quick ratio is 0.72, the current ratio is 0.93, and the debt-to-equity ratio is 0.78. Canadian National Railway reported earnings per share of $1.31 for the most recent quarter, lower than the consensus estimate of $1.37. The company had revenue of $3.02 billion for the quarter.
In addition, Canadian National Railway recently declared a quarterly dividend of $0.5996. The dividend will be paid on September 29th to shareholders of record on September 8th. This represents a positive change from the company’s previous quarterly dividend.
Canadian National Railway Company is a rail and transportation business that provides services such as rail, equipment, transloading and distribution, and intermodal services. MarketBeat generated this news alert using narrative science technology and financial data from MarketBeat and was reviewed by MarketBeat’s editorial team prior to publication.
Sources: MarketBeat, SEC filings