Korea Investment CORP Decreases Stake in Canadian National Railway Company $CNI

Korea Investment CORP lessened its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 20.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 321,965 shares of the transportation company’s stock after selling 81,577 shares during the quarter. Korea Investment CORP owned approximately 0.05% of Canadian National Railway worth $30,368,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Canadian National Railway by 1.6% during the third quarter. Vanguard Group Inc. now owns 24,300,252 shares of the transportation company’s stock worth $2,291,562,000 after acquiring an additional 372,859 shares during the last quarter. The Manufacturers Life Insurance Company raised 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. Fiera Capital Corp lifted its stake in Canadian National Railway by 11.6% in the 3rd quarter. Fiera Capital Corp now owns 6,471,710 shares of the transportation company’s stock worth $610,076,000 after purchasing an additional 671,127 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Canadian National Railway by 20.1% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,296,828 shares of the transportation company’s stock worth $655,768,000 after purchasing an additional 1,051,977 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Canadian National Railway during the 2nd quarter worth approximately $591,904,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of analyst reports. Zacks Research upgraded Canadian National Railway from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. Barclays reduced their price objective on Canadian National Railway from $140.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, February 2nd. Citigroup lowered their price objective on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Stephens dropped their target price on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday, February 2nd. Finally, Canadian Imperial Bank of Commerce raised Canadian National Railway from a “hold” rating to an “outperformer” rating and raised their target price for the stock from $146.00 to $151.00 in a research note on Friday, November 28th. Ten analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.91.

Canadian National Railway Stock Up 1.2%

Shares of NYSE:CNI opened at $108.04 on Tuesday. The firm has a market capitalization of $66.24 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.22 and a beta of 0.90. Canadian National Railway Company has a 1 year low of $90.74 and a 1 year high of $113.08. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.67 and a quick ratio of 0.47. The firm’s 50-day moving average is $103.16 and its two-hundred day moving average is $98.29.

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

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $3.66 annualized dividend and a yield of 3.4%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio is 46.59%.

About Canadian National Railway

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.