Canadian National Railway (NYSE:CNI) Shares Sold by TCI Fund Management Ltd.

TCI Fund Management Ltd. lowered its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.0% during the fourth quarter, Holdings Channel reports. The firm owned 40,072,313 shares of the transportation company’s stock after selling 816,640 shares during the period. Canadian National Railway makes up approximately 14.0% of TCI Fund Management Ltd.’s investment portfolio, making the stock its 2nd largest position. TCI Fund Management Ltd. owned about 0.06% of Canadian National Railway worth $5,037,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. PDS Planning Inc grew its stake in Canadian National Railway by 2.0% during the 4th quarter. PDS Planning Inc now owns 4,566 shares of the transportation company’s stock worth $574,000 after buying an additional 89 shares during the last quarter. Tacita Capital Inc lifted its stake in Canadian National Railway by 0.4% in the third quarter. Tacita Capital Inc now owns 27,356 shares of the transportation company’s stock valued at $2,972,000 after buying an additional 97 shares during the last quarter. First Foundation Advisors boosted its holdings in shares of Canadian National Railway by 0.9% in the third quarter. First Foundation Advisors now owns 12,852 shares of the transportation company’s stock valued at $1,392,000 after acquiring an additional 111 shares during the period. Capital International Ltd. CA grew its position in shares of Canadian National Railway by 0.5% during the fourth quarter. Capital International Ltd. CA now owns 23,455 shares of the transportation company’s stock worth $2,950,000 after acquiring an additional 113 shares during the last quarter. Finally, Hall Laurie J Trustee increased its holdings in shares of Canadian National Railway by 0.4% in the 4th quarter. Hall Laurie J Trustee now owns 28,717 shares of the transportation company’s stock valued at $3,608,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

NYSE:CNI traded up $0.56 during trading hours on Friday, hitting $126.91. The company’s stock had a trading volume of 479,837 shares, compared to its average volume of 893,498. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.46 and a current ratio of 0.60. The business’s 50-day moving average is $127.88 and its two-hundred day moving average is $124.99. The company has a market capitalization of $80.80 billion, a PE ratio of 20.24, a PEG ratio of 2.21 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.16 billion. As a group, research analysts anticipate that Canadian National Railway will post 5.9 EPS for the current fiscal year.

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 issued a $0.625 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a yield of 1.97%. Canadian National Railway’s dividend payout ratio (DPR) is presently 39.71%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CNI. Stifel Nicolaus increased their price target on shares of Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Bank of America upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and increased their target price for the stock from $140.00 to $145.00 in a research note on Wednesday, April 10th. Barclays raised their price target on Canadian National Railway from $127.00 to $130.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Jefferies Financial Group began coverage on Canadian National Railway in a research note on Monday, April 8th. They set a “hold” rating and a $130.00 price objective for the company. Finally, StockNews.com cut Canadian National Railway from a “buy” rating to a “hold” rating in a research report on Wednesday. Eighteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Canadian National Railway presently has a consensus rating of “Hold” and a consensus target price of $149.05.

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.