Bank of Nova Scotia Sells 160,874 Shares of Canadian National Railway (NYSE:CNI)

Bank of Nova Scotia lessened its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,757,030 shares of the transportation company’s stock after selling 160,874 shares during the period. Bank of Nova Scotia owned 0.44% of Canadian National Railway worth $279,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. bought a new position in Canadian National Railway during the fourth quarter valued at approximately $25,000. Arlington Trust Co LLC bought a new stake in Canadian National Railway in the fourth quarter worth $30,000. Lee Danner & Bass Inc. purchased a new stake in Canadian National Railway during the fourth quarter valued at $30,000. Addison Advisors LLC lifted its position in Canadian National Railway by 80.2% during the fourth quarter. Addison Advisors LLC now owns 319 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 142 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Canadian National Railway by 48.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock worth $34,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Down 1.7 %

Shares of Canadian National Railway stock opened at $94.84 on Tuesday. Canadian National Railway has a 52-week low of $92.58 and a 52-week high of $132.27. The firm’s 50 day moving average price is $100.22 and its 200-day moving average price is $105.61. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The company has a market cap of $59.60 billion, a P/E ratio of 18.52, a PEG ratio of 1.95 and a beta of 0.93.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. On average, sell-side analysts predict that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $0.6159 per share. The ex-dividend date was Monday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 2.60%. Canadian National Railway’s dividend payout ratio is currently 47.66%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CNI. Stifel Nicolaus upped their target price on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Susquehanna dropped their target price on Canadian National Railway from $115.00 to $113.00 and set a “neutral” rating for the company in a report on Thursday, March 27th. Jefferies Financial Group upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Friday, January 10th. Evercore ISI upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Bank of America dropped their price target on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $123.36.

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.