Legal & General Group Plc Sells 106,258 Shares of Canadian National Railway Company $CNI

Legal & General Group Plc lessened its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,113,459 shares of the transportation company’s stock after selling 106,258 shares during the quarter. Legal & General Group Plc owned about 0.67% of Canadian National Railway worth $407,364,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. High Point Wealth Management LLC bought a new stake in shares of Canadian National Railway during the 4th quarter valued at about $27,000. Hollencrest Capital Management purchased a new position in shares of Canadian National Railway during the 3rd quarter valued at about $28,000. Costello Asset Management INC raised its holdings in shares of Canadian National Railway by 83.3% during the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after buying an additional 150 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Canadian National Railway during the 4th quarter valued at about $39,000. Finally, Fulcrum Asset Management LLP purchased a new position in shares of Canadian National Railway during the 3rd quarter valued at about $51,000. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of Canadian National Railway stock opened at $116.39 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.49. The business’s 50 day simple moving average is $108.64 and its two-hundred day simple moving average is $103.36. The stock has a market capitalization of $70.73 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.19 and a beta of 0.95. Canadian National Railway Company has a one year low of $90.74 and a one year high of $116.75.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.31 EPS for the quarter, hitting analysts’ consensus estimates of $1.31. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 EPS. Analysts forecast that Canadian National Railway Company will post 5.76 EPS for the current year.

Canadian National Railway Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 9th. Canadian National Railway’s payout ratio is 48.73%.

Wall Street Analysts Forecast Growth

CNI has been the topic of a number of research reports. UBS Group cut Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings raised Canadian National Railway from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Stephens decreased their price objective on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a report on Monday, February 2nd. BMO Capital Markets reissued an “outperform” rating on shares of Canadian National Railway in a report on Monday, February 2nd. Finally, Evercore decreased their price objective on Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating on the stock in a report on Monday, February 2nd. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $122.04.

Canadian National Railway Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.