Canadian National Railway Company $CNI Position Reduced by Korea Investment CORP

Korea Investment CORP trimmed its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 4.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 342,873 shares of the transportation company’s stock after selling 14,172 shares during the period. Korea Investment CORP’s holdings in Canadian National Railway were worth $33,362,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CNI. Royal Bank of Canada grew its stake in Canadian National Railway by 7.5% during the 4th quarter. Royal Bank of Canada now owns 27,757,038 shares of the transportation company’s stock valued at $2,817,616,000 after acquiring an additional 1,934,622 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Canadian National Railway by 33.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,489,874 shares of the transportation company’s stock worth $557,278,000 after buying an additional 1,380,554 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Canadian National Railway during the 1st quarter valued at $112,216,000. BLI Banque de Luxembourg Investments purchased a new position in shares of Canadian National Railway during the 4th quarter valued at $70,283,000. Finally, Value Partners Investments Inc. grew its stake in Canadian National Railway by 1,101.9% in the first quarter. Value Partners Investments Inc. now owns 553,290 shares of the transportation company’s stock valued at $53,897,000 after purchasing an additional 507,254 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Up 1.2%

NYSE CNI opened at $94.2830 on Wednesday. The stock’s 50 day moving average is $99.67 and its two-hundred day moving average is $100.35. Canadian National Railway Company has a 1-year low of $91.65 and a 1-year high of $121.12. The company has a market capitalization of $58.86 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 2.07 and a beta of 0.94. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%.The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $4.34 billion. During the same period in the previous year, the business posted $1.84 EPS. The business’s quarterly revenue was down 1.3% on a year-over-year basis. Equities analysts forecast that Canadian National Railway Company will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 8th will be issued a $0.6507 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway’s dividend payout ratio (DPR) is 49.81%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Susquehanna decreased their target price on shares of Canadian National Railway from $122.00 to $120.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Bank of America lifted their price target on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Citigroup lowered their target price on Canadian National Railway from $124.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, July 9th. Barclays dropped their price target on Canadian National Railway from $106.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 23rd. Finally, National Bank Financial cut Canadian National Railway from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Canadian National Railway presently has a consensus rating of “Hold” and a consensus price target of $118.36.

Canadian National Railway Company 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.