Canadian National Railway (NYSE:CNI) Shares Bought by Capital World Investors

Capital World Investors increased its stake in Canadian National Railway (NYSE:CNIFree Report) (TSE:CNR) by 26.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,536 shares of the transportation company’s stock after acquiring an additional 1,580 shares during the quarter. Capital World Investors’ holdings in Canadian National Railway were worth $947,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Spire Wealth Management grew its holdings in shares of Canadian National Railway by 5.0% in the 3rd quarter. Spire Wealth Management now owns 4,602 shares of the transportation company’s stock worth $498,000 after acquiring an additional 219 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Canadian National Railway by 61.1% during the fourth quarter. Wells Fargo & Company MN now owns 162,179 shares of the transportation company’s stock valued at $20,375,000 after buying an additional 61,498 shares in the last quarter. YCG LLC grew its holdings in shares of Canadian National Railway by 6.0% during the fourth quarter. YCG LLC now owns 250,085 shares of the transportation company’s stock valued at $31,418,000 after buying an additional 14,249 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Canadian National Railway by 2.8% during the fourth quarter. TD Asset Management Inc now owns 11,651,919 shares of the transportation company’s stock valued at $1,471,733,000 after buying an additional 314,600 shares in the last quarter. Finally, Manning & Napier Group LLC grew its holdings in shares of Canadian National Railway by 7.5% during the fourth quarter. Manning & Napier Group LLC now owns 669,988 shares of the transportation company’s stock valued at $84,171,000 after buying an additional 46,517 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNI has been the topic of a number of research analyst reports. Bank of America upgraded Canadian National Railway from a “neutral” rating to a “buy” rating and lifted their price target for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Barclays lifted their price target on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Stephens reiterated an “equal weight” rating and set a $140.00 price target on shares of Canadian National Railway in a report on Wednesday, April 24th. Susquehanna lifted their price objective on Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Eighteen analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $149.32.

Read Our Latest Analysis on CNI

Canadian National Railway Stock Performance

CNI opened at $124.01 on Friday. The company has a market cap of $78.95 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. The stock has a 50-day moving average of $126.74 and a 200-day moving average of $125.76. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60.

Canadian National Railway (NYSE:CNIGet Free Report) (TSE:CNR) last released its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.01. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.16 billion. As a group, equities research analysts forecast that Canadian National Railway will post 5.9 earnings per share for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, June 7th. This represents a $2.50 annualized dividend and a yield of 2.02%. Canadian National Railway’s payout ratio is 39.71%.

Canadian National Railway Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Canadian National Railway (NYSE:CNI)

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