Russell Investments Group Ltd. Reduces Stock Holdings in Canadian National Railway Company (NYSE:CNI)

Russell Investments Group Ltd. trimmed its holdings in shares of Canadian National Railway Company (NYSE:CNI) (TSE:CNR) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596,077 shares of the transportation company’s stock after selling 20,589 shares during the quarter. Russell Investments Group Ltd. owned 0.09% of Canadian National Railway worth $58,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNI. Polar Asset Management Partners Inc. lifted its stake in shares of Canadian National Railway by 233.3% during the fourth quarter. Polar Asset Management Partners Inc. now owns 25,000 shares of the transportation company’s stock worth $2,537,000 after buying an additional 17,500 shares during the period. Cypress Asset Management Inc. TX acquired a new stake in shares of Canadian National Railway during the fourth quarter worth $875,000. GAMMA Investing LLC lifted its stake in shares of Canadian National Railway by 31.3% during the first quarter. GAMMA Investing LLC now owns 718 shares of the transportation company’s stock worth $70,000 after buying an additional 171 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Canadian National Railway by 3.7% during the first quarter. Principal Financial Group Inc. now owns 94,400 shares of the transportation company’s stock worth $9,185,000 after buying an additional 3,400 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Canadian National Railway by 60.6% during the first quarter. SG Americas Securities LLC now owns 9,729 shares of the transportation company’s stock worth $948,000 after buying an additional 3,671 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CNI shares. Evercore ISI downgraded shares of Canadian National Railway from an “outperform” rating to an “in-line” rating and set a $105.00 price objective for the company. in a research note on Wednesday, July 23rd. Stephens lifted their price objective on shares of Canadian National Railway from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Susquehanna lowered their price objective on shares of Canadian National Railway from $122.00 to $120.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Argus upgraded shares of Canadian National Railway to a “hold” rating in a research note on Friday, June 27th. Finally, Bank of America boosted their target price on shares of Canadian National Railway from $105.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $118.36.

Canadian National Railway Stock Up 0.1%

CNI opened at $93.92 on Thursday. Canadian National Railway Company has a fifty-two week low of $91.65 and a fifty-two week high of $121.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.82. The company has a fifty day moving average of $100.61 and a two-hundred day moving average of $100.71. The stock has a market capitalization of $58.84 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.09 and a beta of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its quarterly earnings data on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same period in the previous year, the firm posted $1.84 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. On average, research analysts expect that Canadian National Railway Company will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.6507 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 8th. Canadian National Railway’s dividend payout ratio is presently 50.19%.

Canadian National Railway Company 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.