Canadian National Railway (CNI) Shares Bought by Sun Life Financial INC
Sun Life Financial INC increased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,007 shares of the transportation company’s stock after buying an additional 953 shares during the period. Sun Life Financial INC’s holdings in Canadian National Railway were worth $907,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Delpha Capital Management LLC purchased a new stake in shares of Canadian National Railway in the fourth quarter worth about $143,000. Goodman Financial Corp purchased a new stake in shares of Canadian National Railway in the fourth quarter worth about $165,000. Sowell Financial Services LLC purchased a new stake in shares of Canadian National Railway in the third quarter worth about $200,000. Security National Bank of SO Dak purchased a new stake in shares of Canadian National Railway in the third quarter worth about $203,000. Finally, Dean Capital Investments Management LLC purchased a new stake in shares of Canadian National Railway in the fourth quarter worth about $205,000. Institutional investors own 54.51% of the company’s stock.
Canadian National Railway (NYSE:CNI) traded down $0.88 during trading on Monday, reaching $74.41. The company’s stock had a trading volume of 188,638 shares, compared to its average volume of 1,544,114. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.44 and a current ratio of 0.55. The stock has a market capitalization of $55,767.30, a price-to-earnings ratio of 19.45, a P/E/G ratio of 1.90 and a beta of 1.00. Canadian National Railway has a one year low of $71.02 and a one year high of $85.73.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 8th will be issued a dividend of $0.3665 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $1.47 dividend on an annualized basis and a yield of 1.97%. This is a positive change from Canadian National Railway’s previous quarterly dividend of $0.33. Canadian National Railway’s dividend payout ratio is currently 23.23%.
Several brokerages have weighed in on CNI. Argus cut Canadian National Railway from a “buy” rating to a “hold” rating in a research note on Friday, February 16th. Credit Suisse Group cut their target price on Canadian National Railway from $85.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Goldman Sachs Group initiated coverage on Canadian National Railway in a research note on Monday, November 13th. They issued a “buy” rating and a $85.00 price objective on the stock. Macquarie raised Canadian National Railway from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 24th. Finally, Cowen reissued an “outperform” rating and issued a $86.00 price objective (down previously from $90.00) on shares of Canadian National Railway in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $80.38.
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About Canadian National Railway
Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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