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

Legal & General Group Plc lessened its position in Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 1.8% in the third quarter, according to the company in its most recent 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 owned approximately 0.68% of Canadian National Railway worth $398,014,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Addison Advisors LLC boosted its holdings in shares of Canadian National Railway by 124.0% during the 2nd quarter. Addison Advisors LLC now owns 271 shares of the transportation company’s stock valued at $28,000 after buying an additional 150 shares in the last quarter. Hollencrest Capital Management bought a new position in shares of Canadian National Railway in the 3rd quarter worth about $28,000. First Horizon Corp purchased a new position in Canadian National Railway during the 3rd quarter valued at about $30,000. Costello Asset Management INC lifted its position in Canadian National Railway by 83.3% during the 3rd quarter. Costello Asset Management INC now owns 330 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 150 shares during the period. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in Canadian National Railway during the third quarter worth about $50,000. 80.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CNI shares. UBS Group downgraded shares of Canadian National Railway from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Stephens dropped their price target 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. Canadian Imperial Bank of Commerce upgraded Canadian National Railway from a “hold” rating to an “outperformer” rating and upped their price target for the stock from $146.00 to $151.00 in a research note on Friday, November 28th. Vertical Research raised Canadian National Railway from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Canadian National Railway in a research note on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.91.

Canadian National Railway Trading Down 0.2%

Shares of NYSE CNI opened at $106.18 on Thursday. The firm’s 50 day moving average price is $103.44 and its 200-day moving average price is $98.42. The company 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. Canadian National Railway Company has a 52-week low of $90.74 and a 52-week high of $113.08. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.47 and a current ratio of 0.67.

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

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend 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 49.36%.

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.