Scotia Capital INC Has Lowered Stake in Canadian Natl Ry Co (CNI) by $3.12 Million as Stock Value Rose

October 13, 2017 - By Marie Mckinney

Scotia Capital Inc decreased its stake in Canadian Natl Ry Co (CNI) by 2.24% based on its latest 2017Q2 regulatory filing with the SEC. Scotia Capital Inc sold 39,015 shares as the company’s stock rose 4.48% with the market. The institutional investor held 1.70M shares of the railroads company at the end of 2017Q2, valued at $137.67 million, down from 1.74M at the end of the previous reported quarter. Scotia Capital Inc who had been investing in Canadian Natl Ry Co for a number of months, seems to be less bullish one the $60.45 billion market cap company. The stock rose 0.24% or $0.19 reaching $80.98. About 823,598 shares traded. Canadian National Railway (USA) (NYSE:CNI) has risen 30.03% since October 13, 2016 and is uptrending. It has outperformed by 13.33% the S&P500.

Scotia Capital Inc, which manages about $5.93 billion US Long portfolio, upped its stake in Home Depot Inc (NYSE:HD) by 172,106 shares to 210,706 shares, valued at $32.32M in 2017Q2, according to the filing. It also increased its holding in At&T Inc (NYSE:T) by 518,306 shares in the quarter, for a total of 604,306 shares, and has risen its stake in Coca Cola Co (NYSE:KO).

Analysts await Canadian National Railway (USA) (NYSE:CNI) to report earnings on October, 24 after the close. They expect $1.08 earnings per share, up 12.50 % or $0.12 from last year’s $0.96 per share. CNI’s profit will be $806.20 million for 18.75 P/E if the $1.08 EPS becomes a reality. After $1.00 actual earnings per share reported by Canadian National Railway (USA) for the previous quarter, Wall Street now forecasts 8.00 % EPS growth.

More notable recent Canadian National Railway (USA) (NYSE:CNI) news were published by: Fool.ca which released: “Buy and Forget: Canadian National Railway Company” on August 18, 2017, also Fool.ca with their article: “Canadian National Railway Company: Every Portfolio Should Have This Stock” published on September 23, 2017, Fool.ca published: “Canadian National Railway Company: 1 Major Growth Corridor to Be Excited About” on September 14, 2017. More interesting news about Canadian National Railway (USA) (NYSE:CNI) were released by: Fool.ca and their article: “RRSP Investors: Is Canadian National Railway Company a Top Pick?” published on September 12, 2017 as well as Fool.ca‘s news article titled: “Canadian National Railway Company: Cancelled Energy East Pipeline an …” with publication date: October 11, 2017.

Canadian National Railway (USA) (NYSE:CNI) Ratings Coverage

Among 23 analysts covering Canadian National Railway (NYSE:CNI), 10 have Buy rating, 1 Sell and 12 Hold. Therefore 43% are positive. Canadian National Railway had 56 analyst reports since July 21, 2015 according to SRatingsIntel. As per Tuesday, June 21, the company rating was initiated by Argus Research. The stock of Canadian National Railway (USA) (NYSE:CNI) earned “Outperform” rating by RBC Capital Markets on Wednesday, January 27. The company was maintained on Tuesday, April 26 by Barclays Capital. The firm has “Outperform” rating given on Friday, September 11 by National Bank Canada. On Tuesday, April 26 the stock rating was downgraded by Bank of America to “Underperform”. The company was maintained on Tuesday, April 26 by Cowen & Co. Raymond James upgraded Canadian National Railway (USA) (NYSE:CNI) on Tuesday, July 26 to “Outperform” rating. Seaport Global initiated the stock with “Neutral” rating in Friday, October 28 report. The firm has “Overweight” rating by First Analysis given on Wednesday, January 27. As per Tuesday, October 13, the company rating was downgraded by Canaccord Genuity.

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