Covea Finance, an investment company that manages portfolios of securities holding stocks, recently trimmed its position in Canadian National Railway (CNI) by over half. In the first quarter alone, Covea Finance sold off 260,536 shares of CNI, decreasing their position in the transportation company by 51.3%. According to their most recent filing with the Securities and Exchange Commission (SEC), the investment firm now owns 247,526 shares of CNI, which equates to approximately 1.7% of their investment portfolio.
As per the same filing report, Covea Finance’s holdings in CNI are valued at $29,143,000 as of the end of the reporting period. Despite this significant reduction in their position and valuation, it remains apparent that Canadian National Railway still holds notable value for Covea Finance as it remains their 21st largest holding.
Canadian National Railway Company is primarily engaged in rail and related transportation business and offers a wide array of rail services including equipment provision for different specialty purposes including logistics parks and temperature controlled cargo hauling. Their intermodal services also include customs brokerage alongside trucking and moving grains in containers making them a desirable firm to invest into for an investor such as Covea Finance.
Trading activity garnered by CNI stock seem to be humming along smoothly following this news as they opened at $117.76 on Friday and demonstrate stable performance with current ratios of 0.74 and quick ratios of 0.57 respectively with prices hovering around a fifty day moving average price (MA) over $118 dollars and two-hundred day MA values being about $118.84 dollars.
With market capitalization standing strong at $77.95 billion alongside favorable performance indicators based on price-earnings ratio (PE), price-to-earnings growth (P/E/G), and beta (used to determine volatility relative to performance benchmarks) positions CNI well for future profitability despite fluctuations in stock prices. While the company has demonstrated a 1-year low of $103.79 and a 1-year high of $129.89, their consistent growth seems to attest to a bright future for Canadian National Railway Company regardless of market or financial headwinds they may encounter down the line.
Institutional Investor Changes and Expert Analysis of Canadian National Railway
Canadian National Railway: A Look at Investor Changes and Expert Analysis
Institutional investors have been making changes in their positions in the Canadian National Railway (CNR) lately. Pitcairn Co. recently grew its holdings of CNR shares by 2.9% during the fourth quarter, while CWM LLC grew its holdings by 3.8%. Ascent Group LLC and Baird Financial Group Inc. also increased their position by 2.2% and 0.3%, respectively, during the third quarter of last year.
Prime Capital Investment Advisors LLC has lifted its position in shares of CNR by 3.6% over the past few months, increasing its ownership to now owning 2,579 shares of CNR’s stock worth $307,000 after purchasing an additional 90 shares in the last quarter. It is noteworthy that as much as 64.89% of the stock is currently owned by institutional investors and hedge funds.
A number of financial experts have issued reports on CNR’s performance recently, with a consensus rating of “Hold” and a strong target price averaging around $143.67 according to Bloomberg.com estimates.
The Canadian National Railway Company – listed on both the New York Stock Exchange (NYSE:CNI) and Toronto Stock Exchange (TSE:CNR) – operates primarily in rail and related transportation business but extends its services to include intermodal transport too; this includes custom brokage services, transloading and distribution, temperature controlled cargo, trucking services as well as port partnership among other things.
In line with their most recent earnings report for Q1 2017 released near the end of April this year, they managed to surpass market expectations with strong reported earnings per share (EPS) results coming in at $1.35 per share versus consensus figures which predicted $1.26 EPS.
The transportation company reported an overall revenue of $3.19 billion for the quarter, compared to market expectations of $3.15 billion; a commendable performance for an organisation whose shares are deemed a ‘Hold’ at present by financial analysts. Market experts remain positive about CNR’s prospects with predictions suggesting they will post around 5.83 earnings per share for the current year.
CNR recently announced a quarterly dividend which will be paid on Friday, June 30th and represents a $2.33 dividend on an annualized basis and a yield of 1.98%. Shareholders of record on Friday, June 9th will receive the $0.5835 payment per share in just over two weeks’ time.