HL Financial Services LLC cut its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 46.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,102 shares of the transportation company’s stock after selling 3,524 shares during the period. HL Financial Services LLC’s holdings in Canadian National Railway were worth $300,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mackenzie Financial Corp boosted its stake in shares of Canadian National Railway by 100.7% in the fourth quarter. Mackenzie Financial Corp now owns 6,556,905 shares of the transportation company’s stock valued at $540,945,000 after purchasing an additional 3,289,767 shares during the period. Picton Mahoney Asset Management purchased a new position in Canadian National Railway in the fourth quarter worth approximately $141,338,000. The Manufacturers Life Insurance Company lifted its stake in Canadian National Railway by 29.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 5,941,493 shares of the transportation company’s stock worth $490,174,000 after acquiring an additional 1,344,029 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Canadian National Railway by 543.8% during the 4th quarter. Schroder Investment Management Group now owns 1,115,635 shares of the transportation company’s stock worth $115,636,000 after buying an additional 942,338 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Canadian National Railway during the 4th quarter worth approximately $76,460,000. 54.48% of the stock is currently owned by institutional investors and hedge funds.
Canadian National Railway stock opened at $83.97 on Friday. The company has a market cap of $61.28 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.22 and a beta of 1.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.61 and a quick ratio of 0.50. Canadian National Railway has a 52 week low of $81.16 and a 52 week high of $82.14.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 8th will be given a $0.3603 dividend. This represents a $1.44 annualized dividend and a yield of 1.72%. The ex-dividend date is Thursday, June 7th. Canadian National Railway’s dividend payout ratio is presently 36.72%.
A number of equities analysts have recently commented on CNI shares. Deutsche Bank cut their target price on shares of Canadian National Railway from $74.00 to $69.00 and set a “sell” rating on the stock in a report on Friday, February 16th. Macquarie raised shares of Canadian National Railway from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 24th. Argus lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Friday, February 16th. Raymond James upgraded shares of Canadian National Railway from a “market perform” rating to an “outperform” rating and set a $80.81 price objective on the stock in a research report on Tuesday, April 3rd. Finally, Cowen reiterated an “outperform” rating and issued a $86.00 price objective (down from $90.00) on shares of Canadian National Railway in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $86.10.
Canadian National Railway Company Profile
Canadian National Railway Company engages in rail and related transportation business. The company transports cargo serving exporters, importers, retailers, farmers, and manufacturers. It operates a network of approximately 20,000 route miles of track spans Canada and mid-America connecting the Atlantic, the Pacific, and the Gulf of Mexico.
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