Wellington Management Co. LLP recently announced the acquisition of new stake in Canadian National Railway Company (NYSE:CNI). The institutional investor has increased its shareholding in the Industrials company by 0.93% to 20.38 million shares with purchase of 0.19 million shares. This fresh investment now brings its stake to 3.04% valued currently at $2.43 billion. In addition, RBC Global Asset Management, Inc. raised its holdings by 0.39 million to 18.54 million shares.
With over 1.25 million Canadian National Railway Company (CNI) shares trading Tuesday and a closing price of $115.52 on the day, the dollar volume was approximately $143.99 million. The shares have shown a negative half year performance of -7.15% and its price on 05/23/23 lost nearly -1.90%. Currently, there are 668.30M common shares owned by the public and among those 615.44M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 33 analysts who have offered their price forecasts for CNI have a consensus price objective of $176.19. The analysts have set the share’s price value over the next 12 months at a high of $190.00 and a low of $156.73. The average price target is 12.14% above its recent price level and an upside to the estimated low will see the stock gain 26.29% over that period. But an upside of 39.2% will see the stock hit the forecast high price target while median target price for the stock is $178.50.
The top 3 mutual fund holders in Canadian National Railway Company are Caisse de dépôt et placement du Q, Vanguard Dividend Growth Fund, and Vanguard Total International Stoc. Caisse de dépôt et placement du Q owns 11.72 million shares of the company’s stock, all valued at over $1.4 billion. The company sold 77732.0 shares recently to bring their total holdings to about 1.75% of the shares outstanding. Vanguard Total International Stoc sold -0.11 million shares to bring its total holdings to over 7.85 million shares at a value of $936.45 million. Vanguard Total International Stoc now owns shares totaling to 1.17% of the shares outstanding.
Shares of Canadian National Railway Company (NYSE: CNI) opened at $116.85, down -$0.91 from a prior closing price of $117.76. However, the script later moved the day high at 117.32, down -1.90%. The company’s stock has a 5-day price change of -3.65% and 0.17% over the past three months. CNI shares are trading -2.83% year to date (YTD), with the 12-month market performance up to 3.49% higher. It has a 12-month low price of $103.79 and touched a high of $129.89 over the same period. CNI has an average intraday trading volume of 1.18 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.31%, -2.67%, and -3.26% respectively.
Institutional ownership of Canadian National Railway Company (NYSE: CNI) shares accounts for 77.80% of the company’s 668.30M shares outstanding. Mutual fund holders own 33.38%, while other institutional holders and individual stakeholders account for 37.57% and — respectively.
It has a market capitalization of $77.78B and a beta (3y monthly) value of 0.91. The stock’s trailing 12-month PE ratio is 19.59, while the earnings-per-share (ttm) stands at $5.90. The company has a PEG of 3.22 and a Quick Ratio of 0.60 with the debt-to-equity ratio at 0.80. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.89% over the week and 2.00% over the month.
Analysts forecast that Canadian National Railway Company (CNI) will achieve an EPS of $1.46 for the current quarter, $1.51 for the next quarter and $6.41 for 2024. The lowest estimate earnings-per-share for the quarter is $1.39 while analysts give the company a high EPS estimate of $1.56. Comparatively, EPS for the current quarter was $1.43 a year ago. Earnings per share for the fiscal year are expected to increase by 8.00%, and 9.40% over the next financial year. EPS should grow at an annualized rate of 6.08% over the next five years, compared to -4.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 33 brokerage firm advisors rate Canadian National Railway Company (CNI) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 19 of the 33 advise that investors “hold,” and 1 rated it as a “Sell.”
