Legal & General Group Plc Decreases Stock Holdings in Canadian National Railway (NYSE:CNI)

Legal & General Group Plc reduced its holdings in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 19.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,529,315 shares of the transportation company’s stock after selling 1,095,849 shares during the quarter. Legal & General Group Plc owned about 0.72% of Canadian National Railway worth $459,702,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Unigestion Holding SA lifted its position in shares of Canadian National Railway by 363.6% in the 3rd quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock worth $18,012,000 after purchasing an additional 120,687 shares during the period. Synovus Financial Corp lifted its holdings in Canadian National Railway by 82.3% in the third quarter. Synovus Financial Corp now owns 13,873 shares of the transportation company’s stock worth $1,625,000 after buying an additional 6,261 shares during the period. Sustainable Insight Capital Management LLC bought a new stake in Canadian National Railway during the 4th quarter valued at approximately $436,000. Two Sigma Advisers LP grew its holdings in shares of Canadian National Railway by 123.7% during the 3rd quarter. Two Sigma Advisers LP now owns 172,172 shares of the transportation company’s stock worth $20,170,000 after acquiring an additional 95,200 shares during the period. Finally, Threadgill Financial LLC raised its position in shares of Canadian National Railway by 75.9% in the 4th quarter. Threadgill Financial LLC now owns 22,476 shares of the transportation company’s stock worth $2,282,000 after acquiring an additional 9,701 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Bank of America reduced their target price on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Monday, January 13th. Finally, Susquehanna reduced their price objective on Canadian National Railway from $115.00 to $113.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.36.

Canadian National Railway Trading Down 1.7 %

Shares of CNI stock opened at $94.84 on Tuesday. The stock has a market capitalization of $59.60 billion, a P/E ratio of 18.52, a P/E/G ratio of 1.95 and a beta of 0.93. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average is $100.22 and its 200 day moving average is $105.61. Canadian National Railway has a 12-month low of $92.58 and a 12-month high of $132.27.

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

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $0.6159 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date was Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.60%. Canadian National Railway’s dividend payout ratio (DPR) is presently 47.66%.

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.