Addenda Capital Lowers stake in Canadian National Railway (USA) (CNI)

Canadian National Railway (USA) (CNI) : Addenda Capital reduced its stake in Canadian National Railway (USA) by 36.15% during the most recent quarter end. The investment management company now holds a total of 454,531 shares of Canadian National Railway (USA) which is valued at $28,676,361 after selling 257,305 shares in Canadian National Railway (USA) , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Canadian National Railway (USA) makes up approximately 2.25% of Addenda Capital’s portfolio.

Other Hedge Funds, Including , Blackrock Investment Management boosted its stake in CNI in the latest quarter, The investment management firm added 224 additional shares and now holds a total of 62,432 shares of Canadian National Railway (USA) which is valued at $3,938,835.Trust Investment Advisors reduced its stake in CNI by selling 700 shares or 7.68% in the most recent quarter. The Hedge Fund company now holds 8,420 shares of CNI which is valued at $534,923. Canadian National Railway (USA) makes up approx 0.60% of Trust Investment Advisors’s portfolio.Hemenway Trust Co boosted its stake in CNI in the latest quarter, The investment management firm added 1,735 additional shares and now holds a total of 161,741 shares of Canadian National Railway (USA) which is valued at $10,275,406. Canadian National Railway (USA) makes up approx 2.60% of Hemenway Trust Co’s portfolio.Blair William Coil reduced its stake in CNI by selling 380 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 20,801 shares of CNI which is valued at $1,321,488. Canadian National Railway (USA) makes up approx 0.01% of Blair William Coil’s portfolio.

Canadian National Railway (USA) opened for trading at $64.41 and hit $64.98 on the upside on Friday, eventually ending the session at $64.81, with a gain of 0.11% or 0.07 points. The heightened volatility saw the trading volume jump to 7,23,950 shares. Company has a market cap of $50,118 M.

On the company’s financial health, Canadian National Railway (USA) reported $1.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $1.04. The company had revenue of $2842.00 million for the quarter, compared to analysts expectations of $2896.90 million. The company’s revenue was down -9.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.15 EPS.

Many Wall Street Analysts have commented on Canadian National Railway (USA). Company shares were Reiterated by Cowen on Jul 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 68 from a previous price target of $67 .Canadian National Railway (USA) was Upgraded by Raymond James to ” Outperform” on Jul 26, 2016. Argus Initiated Canadian National Railway (USA) on Jun 21, 2016 to “Buy”, Price Target of the shares are set at $73.

Canadian National Railway Company (CN) is engaged in the rail and related transportation business. CN’s network and connections to all Class I railroads provide its customers with access to all three North American Free Trade Agreement (NAFTA) nations. CN derives its freight revenue from seven commodity groups representing a portfolio of goods transported between a range of origins and destinations. The Company’s network of approximately 20000 route miles of track spans Canada and mid-America from the Atlantic and Pacific oceans to the Gulf of Mexico serving the ports of Vancouver Prince Rupert (British Columbia) Montreal Halifax New Orleans and Mobile (Alabama) and the metropolitan areas of Toronto Buffalo Chicago Detroit Duluth (Minnesota)/Superior (Wisconsin) Green Bay (Wisconsin) Minneapolis/St. Paul Memphis and Jackson (Mississippi) with connections to all points in North America.

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