Canadian National Railway Company $CNI Stake Lessened by Shell Asset Management Co.

Shell Asset Management Co. lessened its stake in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 51.5% during the third quarter, Holdings Channel.com reports. The fund owned 15,677 shares of the transportation company’s stock after selling 16,655 shares during the period. Shell Asset Management Co.’s holdings in Canadian National Railway were worth $1,479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNI. Norges Bank bought a new stake in shares of Canadian National Railway in the 2nd quarter worth $591,904,000. Fisher Asset Management LLC acquired a new position in Canadian National Railway during the second quarter worth about $189,748,000. Troy Asset Management Ltd raised its position in Canadian National Railway by 158.8% in the third quarter. Troy Asset Management Ltd now owns 2,738,372 shares of the transportation company’s stock worth $258,220,000 after acquiring an additional 1,680,223 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Canadian National Railway by 26.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,705,679 shares of the transportation company’s stock valued at $695,048,000 after acquiring an additional 1,408,978 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Canadian National Railway by 20.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock valued at $655,768,000 after purchasing an additional 1,051,977 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CNI. Evercore cut their target price on shares of Canadian National Railway from $105.00 to $103.00 and set an “in-line” rating for the company in a research note on Monday, February 2nd. Royal Bank Of Canada cut their price objective on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating for the company in a research report on Monday, February 2nd. UBS Group cut Canadian National Railway from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Citigroup reduced their target price on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of “Moderate Buy” and an average price target of $118.91.

Canadian National Railway Stock Up 0.2%

Canadian National Railway stock opened at $107.55 on Monday. Canadian National Railway Company has a twelve month low of $90.74 and a twelve month high of $108.75. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67. The firm has a market cap of $65.94 billion, a PE ratio of 19.81, a P/E/G ratio of 2.26 and a beta of 0.94. The firm’s 50 day moving average price is $99.48 and its two-hundred day moving average price is $96.46.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the company earned $1.82 earnings per share. Canadian National Railway’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts predict that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a $0.915 dividend. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.89. This represents a $3.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, March 10th. Canadian National Railway’s dividend payout ratio is currently 46.59%.

Canadian National Railway Company 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.