Bank of New York Mellon Corp Has $1.27 Billion Position in Canadian National Railway (NYSE:CNI)

Bank of New York Mellon Corp trimmed its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,490,148 shares of the transportation company’s stock after selling 662,080 shares during the period. Bank of New York Mellon Corp’s holdings in Canadian National Railway were worth $1,267,875,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CNI. XTX Topco Ltd raised its holdings in Canadian National Railway by 43.3% in the third quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock worth $1,822,000 after purchasing an additional 4,698 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Canadian National Railway by 29.6% in the 3rd quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock valued at $10,820,000 after buying an additional 21,100 shares during the period. Unigestion Holding SA increased its position in shares of Canadian National Railway by 363.6% in the 3rd quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock valued at $18,012,000 after buying an additional 120,687 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Canadian National Railway by 5.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock worth $464,002,000 after buying an additional 202,303 shares during the period. Finally, Partners Group Holding AG lifted its holdings in Canadian National Railway by 16.3% during the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock worth $47,571,000 after acquiring an additional 56,849 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

CNI has been the subject of several recent analyst reports. TD Securities upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a report on Monday, January 13th. Evercore ISI raised Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price target for the company from $126.00 to $130.00 in a report on Tuesday, November 12th. Finally, Stifel Nicolaus raised their price objective on shares of Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.19.

Canadian National Railway Trading Down 2.8 %

Canadian National Railway stock opened at $101.06 on Tuesday. The company has a market cap of $63.49 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 1.95 and a beta of 0.91. The firm has a 50-day moving average of $102.61 and a 200-day moving average of $109.33. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. Canadian National Railway has a one year low of $98.69 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. On average, equities analysts expect that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.6159 per share. This represents a $2.46 dividend on an annualized basis and a yield of 2.44%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. Canadian National Railway’s payout ratio is presently 46.68%.

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.