Mufg Securities Canada LTD. Has $82.51 Million Stake in Canadian National Railway Company $CNI

Mufg Securities Canada LTD. reduced its position in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 834,086 shares of the transportation company’s stock after selling 85,317 shares during the period. Canadian National Railway comprises about 2.3% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 15th largest holding. Mufg Securities Canada LTD.’s holdings in Canadian National Railway were worth $82,512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CNI. AQR Capital Management LLC acquired a new position in shares of Canadian National Railway during the first quarter worth about $311,000. Focus Partners Wealth boosted its position in shares of Canadian National Railway by 11.1% during the first quarter. Focus Partners Wealth now owns 11,514 shares of the transportation company’s stock worth $1,122,000 after buying an additional 1,146 shares during the period. Schnieders Capital Management LLC. acquired a new position in shares of Canadian National Railway during the second quarter worth about $202,000. EverSource Wealth Advisors LLC boosted its position in shares of Canadian National Railway by 52.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,118 shares of the transportation company’s stock worth $116,000 after buying an additional 383 shares during the period. Finally, Baird Financial Group Inc. boosted its position in shares of Canadian National Railway by 2.9% during the second quarter. Baird Financial Group Inc. now owns 17,094 shares of the transportation company’s stock worth $1,778,000 after buying an additional 474 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNI has been the subject of several recent research reports. Royal Bank Of Canada upped their price objective on Canadian National Railway from $160.00 to $178.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Weiss Ratings cut Canadian National Railway from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Bank of America raised Canadian National Railway from a “neutral” rating to a “buy” rating and increased their price target for the company from $117.00 to $122.00 in a research report on Thursday, April 9th. Sanford C. Bernstein increased their price target on Canadian National Railway from $113.88 to $117.36 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. Finally, Barclays increased their price target on Canadian National Railway from $98.00 to $99.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $122.04.

Canadian National Railway Price Performance

NYSE:CNI opened at $119.02 on Monday. The firm has a market capitalization of $72.21 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 2.28 and a beta of 0.96. The company has a quick ratio of 0.49, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Canadian National Railway Company has a 12-month low of $90.74 and a 12-month high of $122.48. The stock’s 50 day moving average price is $113.32 and its two-hundred day moving average price is $105.64.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Wednesday, April 29th. The transportation company reported $1.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.31. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.15 billion. Canadian National Railway had a return on equity of 21.90% and a net margin of 27.22%.The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 earnings per share. On average, analysts anticipate that Canadian National Railway Company will post 5.76 earnings per share for the current year.

Canadian National Railway Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.915 per share. The ex-dividend date is Tuesday, June 9th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.1%. Canadian National Railway’s dividend payout ratio (DPR) is 48.55%.

Canadian National Railway Company 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.