Aviva PLC Lowers Stake in Canadian National Railway (NYSE:CNI)

Aviva PLC lowered its stake in shares of Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 44.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 323,220 shares of the transportation company's stock after selling 260,864 shares during the quarter. Aviva PLC owned about 0.05% of Canadian National Railway worth $32,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. XTX Topco Ltd lifted its position in Canadian National Railway by 43.3% during the 3rd quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company's stock worth $1,822,000 after acquiring an additional 4,698 shares during the period. Unigestion Holding SA lifted its holdings in shares of Canadian National Railway by 363.6% during the third 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 grew its position in Canadian National Railway by 82.3% in the 3rd quarter. Synovus Financial Corp now owns 13,873 shares of the transportation company's stock valued at $1,625,000 after buying an additional 6,261 shares during the last quarter. Sustainable Insight Capital Management LLC purchased a new position in Canadian National Railway in the 4th quarter valued at $436,000. Finally, Two Sigma Advisers LP increased its stake in Canadian National Railway by 123.7% in the 3rd quarter. Two Sigma Advisers LP now owns 172,172 shares of the transportation company's stock valued at $20,170,000 after buying an additional 95,200 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Remove Ads

Canadian National Railway Price Performance

NYSE:CNI traded up $2.41 during mid-day trading on Friday, hitting $98.22. 395,356 shares of the company's stock traded hands, compared to its average volume of 1,266,766. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. The company has a market cap of $61.72 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93. The firm's 50 day simple moving average is $99.40 and its 200 day simple moving average is $105.01. Canadian National Railway has a 1 year low of $91.65 and a 1 year high of $132.27.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued 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%. Sell-side analysts expect that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a $0.6159 dividend. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. This represents a $2.46 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Monday, March 10th. Canadian National Railway's dividend payout ratio is currently 47.66%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CNI. Susquehanna lowered their target price on shares of Canadian National Railway from $115.00 to $113.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Bank of America lowered their price objective on Canadian National Railway from $119.00 to $112.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Barclays cut their target price 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. Evercore ISI upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research note on Thursday, December 19th. Finally, TD Securities upgraded Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $121.19.

Canadian National Railway Profile

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.