Canadian National Railway (NYSE:CNI) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New lessened its stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,025 shares of the transportation company’s stock after selling 250 shares during the period. Cigna Investments Inc. New’s holdings in Canadian National Railway were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CNI. Canada Pension Plan Investment Board boosted its position in shares of Canadian National Railway by 92.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,505,860 shares of the transportation company’s stock valued at $593,911,000 after purchasing an additional 2,163,820 shares during the period. Capital International Investors lifted its stake in Canadian National Railway by 18.1% in the first quarter. Capital International Investors now owns 9,003,537 shares of the transportation company’s stock valued at $1,185,647,000 after buying an additional 1,379,976 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Canadian National Railway by 4,614.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,336,027 shares of the transportation company’s stock valued at $157,896,000 after acquiring an additional 1,307,689 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Canadian National Railway during the second quarter worth approximately $134,096,000. Finally, 1832 Asset Management L.P. increased its holdings in shares of Canadian National Railway by 7.8% in the 2nd quarter. 1832 Asset Management L.P. now owns 9,365,622 shares of the transportation company’s stock valued at $1,106,361,000 after acquiring an additional 674,536 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Down 1.6 %

Canadian National Railway stock opened at $108.02 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.49 and a current ratio of 0.64. The stock’s fifty day moving average is $115.59 and its two-hundred day moving average is $118.96. Canadian National Railway has a fifty-two week low of $105.17 and a fifty-two week high of $134.02. The firm has a market capitalization of $67.92 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 2.46 and a beta of 0.88.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings results on Tuesday, October 22nd. The transportation company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Canadian National Railway had a return on equity of 23.62% and a net margin of 31.65%. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. Analysts predict that Canadian National Railway will post 5.54 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.6108 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Monday, December 9th. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.26%.

Wall Street Analysts Forecast Growth

CNI has been the subject of a number of recent research reports. Royal Bank of Canada upgraded shares of Canadian National Railway from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Scotiabank raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 10th. Stifel Nicolaus boosted their price target on Canadian National Railway from $130.00 to $132.00 and gave the company a “hold” rating in a research report on Wednesday, October 23rd. Veritas raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upgraded Canadian National Railway from an “equal weight” rating to an “overweight” rating and set a $125.00 price target for the company in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Canadian National Railway has a consensus rating of “Hold” and a consensus target price of $125.18.

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.