Scotia Capital INC Has Lowered Its Position in Canadian Natl Ry Co (CNI) as Valuation Rose

October 13, 2017 - By Henry Gaston

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 1.70 million 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 Cvs Health Corp (NYSE:CVS) by 324,755 shares to 424,755 shares, valued at $34.17 million in 2017Q2, according to the filing. It also increased its holding in Manulife Finl Corp (NYSE:MFC) by 286,251 shares in the quarter, for a total of 8.01 million shares, and has risen its stake in Costco Whsl Corp New (NASDAQ:COST).

Investors wait Canadian National Railway (USA) (NYSE:CNI) to report on October, 24 after the close. its quarterly earnings Wall Street analysts expect $1.08 EPS, up $0.12 or 12.50 % from last year’s $0.96 same quarter earnings. This translates into $806.20 million profit for CNI giving the stock a 18.75 P/E. This is assuming the current $1.08 EPS is accurate. Canadian National Railway (USA)’s Wall Street analysts see 8.00 % EPS growth, taking into account the $1.00 EPS reproted in the previous quarter,

More notable recent Canadian National Railway (USA) (NYSE:CNI) news were published by: Fool.ca which released: “RRSP Investors: Is Canadian National Railway Company a Top Pick?” on September 12, 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: Cancelled Energy East Pipeline an …” on October 11, 2017. More interesting news about Canadian National Railway (USA) (NYSE:CNI) were released by: Benzinga.com and their article: “Riding The Rails: Canadian Train Stocks Preferred To CSX, Union Pacific” published on October 02, 2017 as well as Fool.ca‘s news article titled: “Canadian National Railway Company: 1 Major Growth Corridor to Be Excited About” with publication date: September 14, 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. The firm earned “Buy” rating on Tuesday, August 11 by Raymond James. The stock of Canadian National Railway (USA) (NYSE:CNI) earned “Buy” rating by Cowen & Co on Friday, August 18. The firm has “Buy” rating given on Monday, July 17 by Cowen & Co. The firm earned “Buy” rating on Tuesday, September 8 by TD Securities. CLSA initiated Canadian National Railway (USA) (NYSE:CNI) on Thursday, May 19 with “Sell” rating. The company was downgraded on Monday, October 17 by Raymond James. On Wednesday, January 27 the stock rating was downgraded by Raymond James to “Mkt Perform”. The rating was initiated by Atlantic Securities with “Buy” on Thursday, August 11. Bank of America maintained it with “Buy” rating and $59 target in Monday, February 22 report. The rating was maintained by Cowen & Co on Tuesday, April 26 with “Outperform”.

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