Legal & General Group Plc Sells 77,608 Shares of Canadian National Railway Company $CNI

Legal & General Group Plc cut its stake in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,219,717 shares of the transportation company’s stock after selling 77,608 shares during the quarter. Legal & General Group Plc’s holdings in Canadian National Railway were worth $398,014,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cardinal Point Capital Management ULC raised its position in Canadian National Railway by 28.8% in the third quarter. Cardinal Point Capital Management ULC now owns 124,426 shares of the transportation company’s stock worth $11,730,000 after acquiring an additional 27,857 shares during the period. Westerkirk Capital Inc. bought a new stake in shares of Canadian National Railway during the 2nd quarter valued at $3,448,000. Lorne Steinberg Wealth Management Inc. increased its stake in shares of Canadian National Railway by 23.3% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 83,095 shares of the transportation company’s stock worth $7,834,000 after purchasing an additional 15,715 shares in the last quarter. Cardinal Capital Management Inc. increased its stake in shares of Canadian National Railway by 1.5% in the 3rd quarter. Cardinal Capital Management Inc. now owns 742,230 shares of the transportation company’s stock worth $70,038,000 after purchasing an additional 10,880 shares in the last quarter. Finally, Nicola Wealth Management LTD. raised its holdings in Canadian National Railway by 13.9% in the 3rd quarter. Nicola Wealth Management LTD. now owns 198,800 shares of the transportation company’s stock worth $18,749,000 after purchasing an additional 24,200 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Price Performance

NYSE:CNI opened at $106.18 on Thursday. The business’s 50-day simple moving average is $103.44 and its two-hundred day simple moving average is $98.42. Canadian National Railway Company has a 52 week low of $90.74 and a 52 week high of $113.08. The stock has a market cap of $65.10 billion, a PE ratio of 19.55, a P/E/G ratio of 2.21 and a beta of 0.90. The company has a quick ratio of 0.47, a current ratio of 0.67 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Friday, January 30th. The transportation company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. Canadian National Railway had a return on equity of 22.14% and a net margin of 27.28%.The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts forecast that Canadian National Railway Company will post 5.52 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a $0.915 dividend. This represents a $3.66 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, March 10th. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.89. Canadian National Railway’s dividend payout ratio is currently 49.36%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup cut their price target on Canadian National Railway from $119.00 to $115.00 and set a “buy” rating for the company in a report on Monday, February 2nd. Royal Bank Of Canada decreased their price objective on Canadian National Railway from $153.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday, February 2nd. Stephens lowered their price objective on Canadian National Railway from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday, February 2nd. BMO Capital Markets reiterated an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Finally, Zacks Research raised shares of Canadian National Railway from a “strong sell” rating to a “hold” rating in a report on Friday, November 28th. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and a consensus target price of $118.91.

Canadian National Railway Profile

Canadian National Railway Company (NYSE: CNI) is a Class I freight railway that operates an integrated rail network across Canada and the United States. Headquartered in Montreal, Quebec, CN provides long-haul freight transportation and related logistics services that connect major ports, industrial centers and inland markets throughout North America. Its transcontinental system enables cross-border movement of goods and supports supply chains that span coast-to-coast in Canada and into the central and eastern United States.

CN’s core business is the railborne transportation of a broad mix of commodities, including intermodal container traffic, forest and paper products, grain and other agricultural products, metallurgical and industrial products, petroleum and chemical products, coal and automotive shipments.