abrdn plc Decreases Position in Canadian National Railway (NYSE:CNI)

abrdn plc trimmed its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 46.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,300 shares of the transportation company’s stock after selling 16,596 shares during the quarter. abrdn plc’s holdings in Canadian National Railway were worth $2,425,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CNI. Ballentine Partners LLC raised its holdings in shares of Canadian National Railway by 19.8% in the third quarter. Ballentine Partners LLC now owns 2,148 shares of the transportation company’s stock worth $233,000 after acquiring an additional 355 shares during the last quarter. PDS Planning Inc increased its stake in Canadian National Railway by 2.8% in the third quarter. PDS Planning Inc now owns 4,477 shares of the transportation company’s stock valued at $485,000 after purchasing an additional 122 shares during the last quarter. QV Investors Inc. increased its stake in Canadian National Railway by 20.2% in the third quarter. QV Investors Inc. now owns 351,379 shares of the transportation company’s stock valued at $38,228,000 after purchasing an additional 59,042 shares during the last quarter. Foresight Global Investors Inc. acquired a new position in Canadian National Railway in the third quarter valued at $450,000. Finally, Hexagon Capital Partners LLC increased its stake in Canadian National Railway by 17.4% in the third quarter. Hexagon Capital Partners LLC now owns 761 shares of the transportation company’s stock valued at $82,000 after purchasing an additional 113 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on CNI shares. Susquehanna upped their target price on Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. TD Securities lowered Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. CIBC lowered Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, January 10th. Jefferies Financial Group assumed coverage on Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 target price for the company. Finally, Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research report on Wednesday, April 24th. Eighteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway has an average rating of “Hold” and a consensus target price of $149.05.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $125.23 on Monday. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The business has a 50-day moving average of $129.49 and a 200-day moving average of $122.52. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. The company has a market capitalization of $79.98 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.19 and a beta of 0.88.

Canadian National Railway Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s dividend payout ratio is currently 40.03%.

About Canadian National Railway

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.