As Canadian National Railway Co. (CNI) Market Valuation Rose, Highstreet Asset Management INC Cut Holding

September 30, 2018 - By Billy Entrekin

Canadian National Railway Company (NYSE:CNI) Logo

Highstreet Asset Management Inc decreased its stake in Canadian National Railway Co. (CNI) by 19.11% based on its latest 2018Q2 regulatory filing with the SEC. Highstreet Asset Management Inc sold 207,900 shares as the company’s stock rose 3.74% with the market. The institutional investor held 879,811 shares of the railroads company at the end of 2018Q2, valued at $71.96 million, down from 1.09M at the end of the previous reported quarter. Highstreet Asset Management Inc who had been investing in Canadian National Railway Co. for a number of months, seems to be less bullish one the $65.35 billion market cap company. The stock increased 0.22% or $0.2 during the last trading session, reaching $89.8. About 1.39 million shares traded or 47.86% up from the average. Canadian National Railway Company (NYSE:CNI) has risen 5.62% since September 30, 2017 and is uptrending. It has underperformed by 10.00% the S&P500.

Highstreet Asset Management Inc, which manages about $1.67 billion US Long portfolio, upped its stake in 3M Co. (NYSE:MMM) by 44,714 shares to 184,577 shares, valued at $36.31 million in 2018Q2, according to the filing. It also increased its holding in The Williams Cos. Inc. (NYSE:WMB) by 116,249 shares in the quarter, for a total of 117,969 shares, and has risen its stake in Teck Resources Ltd. (NYSE:TCK).

Analysts await Canadian National Railway Company (NYSE:CNI) to report earnings on October, 23. They expect $1.13 earnings per share, up 7.62 % or $0.08 from last year’s $1.05 per share. CNI’s profit will be $822.27 million for 19.87 P/E if the $1.13 EPS becomes a reality. After $1.17 actual earnings per share reported by Canadian National Railway Company for the previous quarter, Wall Street now forecasts -3.42 % negative EPS growth.

More notable recent Canadian National Railway Company (NYSE:CNI) news were published by: Fool.ca which released: “3 Canadian Dividend Aristocrats to Buy and Hold Forever” on September 30, 2018, also Benzinga.com with their article: “Railroads Have Spent A Lot Of Money The Last 10 Years, And Customers Have Barely Benefited: FTR Speaker” published on September 12, 2018, Globenewswire.com published: “CN orders 60 more locomotives from GE Transportation” on September 05, 2018. More interesting news about Canadian National Railway Company (NYSE:CNI) were released by: Seekingalpha.com and their article: “Cenovus signs deals with CN Rail, CP Rail to transport oil to US Gulf Coast” published on September 26, 2018 as well as Fool.com‘s news article titled: “With Pipelines Filled to the Brim, Oil Companies are Turning to Railroads for Relief” with publication date: September 27, 2018.

Canadian National Railway Company (NYSE:CNI) Ratings Coverage

Among 12 analysts covering Canadian Railway (NYSE:CNI), 5 have Buy rating, 0 Sell and 7 Hold. Therefore 42% are positive. Canadian Railway had 16 analyst reports since April 2, 2018 according to SRatingsIntel. The rating was upgraded by Citigroup to “Buy” on Tuesday, September 25. Barclays Capital maintained it with “Equal-Weight” rating and $77 target in Wednesday, July 25 report. Susquehanna maintained it with “Hold” rating and $8200 target in Monday, April 2 report. The firm has “Hold” rating given on Tuesday, July 24 by Stifel Nicolaus. The stock has “Buy” rating by Deutsche Bank on Monday, July 9. The company was maintained on Tuesday, April 24 by Susquehanna. The rating was downgraded by BMO Capital Markets to “Market Perform” on Wednesday, September 5. The firm earned “Buy” rating on Thursday, May 17 by Bank of America. On Wednesday, July 25 the stock rating was maintained by Citigroup with “Neutral”. The firm earned “Buy” rating on Tuesday, April 24 by Cowen & Co.

Canadian National Railway Company (NYSE:CNI) Ratings Chart

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