Canadian National Railway (NYSE:CNI) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lessened its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,120,860 shares of the transportation company's stock after selling 339,300 shares during the period. Canada Pension Plan Investment Board owned 0.34% of Canadian National Railway worth $215,092,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Advisory Resource Group raised its position in Canadian National Railway by 13.4% during the 3rd quarter. Advisory Resource Group now owns 8,391 shares of the transportation company's stock worth $983,000 after purchasing an additional 989 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in Canadian National Railway by 5.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 40,218 shares of the transportation company's stock worth $4,712,000 after purchasing an additional 1,903 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Canadian National Railway by 115.2% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,382 shares of the transportation company's stock worth $513,000 after purchasing an additional 2,346 shares during the period. Synovus Financial Corp increased its position in shares of Canadian National Railway by 82.3% during 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. Finally, Principal Financial Group Inc. lifted its holdings in Canadian National Railway by 29.6% in the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company's stock valued at $10,820,000 after buying an additional 21,100 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Trading Down 0.2 %

NYSE:CNI traded down $0.16 during midday trading on Tuesday, hitting $98.44. The stock had a trading volume of 471,480 shares, compared to its average volume of 1,461,751. Canadian National Railway has a one year low of $91.65 and a one year high of $130.63. The company has a market capitalization of $61.87 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.95 and a beta of 0.93. The stock has a 50-day moving average of $98.91 and a 200 day moving average of $104.12. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last released 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 return on equity of 22.48% and a net margin of 26.09%. As a group, sell-side analysts forecast that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a $0.6159 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.50%. Canadian National Railway's dividend payout ratio (DPR) is currently 47.66%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Canadian National Railway from $174.00 to $171.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Loop Capital downgraded Canadian National Railway from a "hold" rating to a "sell" rating in a research note on Monday, February 3rd. Barclays reduced their price objective on Canadian National Railway from $112.00 to $104.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. Jefferies Financial Group cut their target price on Canadian National Railway from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Bank of America dropped their price objective on shares of Canadian National Railway from $119.00 to $112.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $120.36.

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.