Swiss National Bank Sells 74,200 Shares of Canadian National Railway (NYSE:CNI)

Swiss National Bank trimmed its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,811,900 shares of the transportation company’s stock after selling 74,200 shares during the quarter. Swiss National Bank’s holdings in Canadian National Railway were worth $228,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC raised its position in Canadian National Railway by 58.9% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 755 shares of the transportation company’s stock worth $82,000 after purchasing an additional 280 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Canadian National Railway by 0.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 76,994 shares of the transportation company’s stock valued at $8,341,000 after acquiring an additional 615 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in Canadian National Railway by 2.2% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 276,660 shares of the transportation company’s stock valued at $30,100,000 after acquiring an additional 6,000 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its position in Canadian National Railway by 0.3% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 103,879 shares of the transportation company’s stock valued at $11,159,000 after purchasing an additional 315 shares during the period. Finally, YCG LLC raised its holdings in Canadian National Railway by 80.0% during the 3rd quarter. YCG LLC now owns 235,836 shares of the transportation company’s stock worth $25,548,000 after purchasing an additional 104,850 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Canadian National Railway Stock Performance

Shares of NYSE CNI traded up $1.58 during mid-day trading on Friday, reaching $123.54. 779,122 shares of the company’s stock were exchanged, compared to its average volume of 1,015,409. The firm has a market capitalization of $78.90 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.12 and a beta of 0.89. The firm has a 50-day moving average price of $128.89 and a two-hundred day moving average price of $122.72. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. Canadian National Railway has a 52 week low of $103.96 and a 52 week high of $134.02.

Canadian National Railway Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, June 7th. Canadian National Railway’s payout ratio is 40.03%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CNI. Benchmark reissued a “hold” rating on shares of Canadian National Railway in a research note on Wednesday, April 24th. Susquehanna Bancshares upped their target price on Canadian National Railway from $115.00 to $143.00 and gave the company a “neutral” rating in a research report on Monday, January 8th. TD Securities downgraded Canadian National Railway from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Bank of America raised shares of Canadian National Railway from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $145.00 in a research report on Wednesday, April 10th. Finally, CIBC downgraded shares of Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 10th. Seventeen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Canadian National Railway presently has a consensus rating of “Hold” and an average target price of $149.05.

About Canadian National Railway

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.