Royal London Asset Management Ltd. Sells 368,502 Shares of Canadian National Railway (NYSE:CNI)

Royal London Asset Management Ltd. reduced its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,201,886 shares of the transportation company’s stock after selling 368,502 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.19% of Canadian National Railway worth $122,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of CNI. Generali Asset Management SPA SGR bought a new position in Canadian National Railway in the 4th quarter worth $3,226,000. Gold Investment Management Ltd. lifted its position in shares of Canadian National Railway by 0.6% in the fourth quarter. Gold Investment Management Ltd. now owns 47,721 shares of the transportation company’s stock valued at $4,845,000 after acquiring an additional 307 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Canadian National Railway by 5.0% in the fourth quarter. Harbour Investments Inc. now owns 3,302 shares of the transportation company’s stock worth $335,000 after acquiring an additional 156 shares during the period. Centurion Wealth Management LLC boosted its stake in shares of Canadian National Railway by 23.0% in the fourth quarter. Centurion Wealth Management LLC now owns 2,415 shares of the transportation company’s stock worth $245,000 after acquiring an additional 452 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Canadian National Railway during the fourth quarter worth about $205,000. 80.74% of the stock is currently owned by institutional investors.

Canadian National Railway Price Performance

CNI opened at $97.55 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The business’s fifty day simple moving average is $101.43 and its 200-day simple moving average is $107.49. The company has a market capitalization of $61.30 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.95 and a beta of 0.91. Canadian National Railway has a 12-month low of $93.64 and a 12-month high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. On average, equities research analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.6159 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a yield of 2.53%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio is currently 47.66%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Stifel Nicolaus upped their target price on shares of Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Royal Bank of Canada reduced their price target on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Canadian National Railway from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 7th. Finally, Loop Capital lowered Canadian National Railway from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $124.19.

Canadian National Railway Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.