Skandinaviska Enskilda Banken AB publ Cuts Stock Holdings in Canadian National Railway (NYSE:CNI)

Skandinaviska Enskilda Banken AB publ cut its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,995 shares of the transportation company's stock after selling 4,855 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Canadian National Railway were worth $7,760,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI raised its stake in Canadian National Railway by 46.5% in the 3rd quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company's stock valued at $789,030,000 after acquiring an additional 2,137,948 shares during the period. Canoe Financial LP purchased a new position in shares of Canadian National Railway in the fourth quarter worth about $216,943,000. Point72 Asset Management L.P. bought a new stake in shares of Canadian National Railway in the third quarter valued at approximately $159,907,000. Wellington Management Group LLP raised its position in shares of Canadian National Railway by 4.4% in the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company's stock valued at $2,175,935,000 after purchasing an additional 790,420 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Canadian National Railway by 64.5% during the 3rd quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company's stock valued at $174,813,000 after buying an additional 584,832 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have issued reports on CNI shares. Evercore ISI raised shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a report on Thursday, December 19th. Barclays reduced their price target on Canadian National Railway from $121.00 to $112.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Bank of America dropped 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. Susquehanna reduced their target price on Canadian National Railway from $125.00 to $115.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Finally, Stifel Nicolaus upped their price target on Canadian National Railway from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $124.19.

Canadian National Railway Price Performance

Shares of NYSE CNI traded up $0.02 during mid-day trading on Wednesday, reaching $97.55. 853,277 shares of the company were exchanged, compared to its average volume of 1,181,873. Canadian National Railway has a 52 week low of $93.64 and a 52 week high of $134.02. The company's 50 day moving average price is $101.53 and its 200 day moving average price is $107.56. The stock has a market capitalization of $61.30 billion, a PE ratio of 19.05, a PEG ratio of 1.95 and a beta of 0.91. 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 issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate 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 forecast that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.6159 per share. This is a boost from Canadian National Railway's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, March 10th. Canadian National Railway's dividend payout ratio (DPR) is presently 47.66%.

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.