Swiss National Bank Sells 72,400 Shares of Canadian National Railway (NYSE:CNI)

Swiss National Bank lowered its position in Canadian National Railway (NYSE:CNI - Free Report) TSE: CNR by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,553,200 shares of the transportation company's stock after selling 72,400 shares during the period. Swiss National Bank owned about 0.25% of Canadian National Railway worth $157,647,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CNI. National Bank of Canada FI increased its position in shares of 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 buying an additional 2,137,948 shares in the last quarter. Canoe Financial LP bought a new position in Canadian National Railway during the 4th quarter worth about $216,943,000. Point72 Asset Management L.P. bought a new position in Canadian National Railway during the 3rd quarter worth about $159,907,000. Wellington Management Group LLP increased its holdings in Canadian National Railway by 4.4% during the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company's stock worth $2,175,935,000 after purchasing an additional 790,420 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in 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 worth $174,813,000 after purchasing an additional 584,832 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNI. Bank of America lowered their target price on Canadian National Railway from $119.00 to $112.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada lowered their target price on Canadian National Railway from $174.00 to $171.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Stifel Nicolaus raised their target price on shares of Canadian National Railway from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, January 31st. TD Securities raised shares of Canadian National Railway from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 13th. Finally, Loop Capital downgraded shares of Canadian National Railway from a "hold" rating to a "sell" rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of "Moderate Buy" and a consensus price target of $124.19.

Remove Ads

Canadian National Railway Stock Performance

Shares of CNI opened at $96.00 on Friday. The firm has a 50-day moving average of $101.87 and a 200-day moving average of $108.12. Canadian National Railway has a one year low of $93.64 and a one year high of $134.02. The company has a market cap of $60.31 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last announced its earnings results on Thursday, January 30th. The transportation company reported $1.30 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%. As a group, equities analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.6159 per share. This is an increase from Canadian National Railway's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.46 annualized dividend and a dividend yield of 2.57%. Canadian National Railway's payout ratio is presently 47.85%.

Canadian National Railway Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.