Royal London Asset Management Ltd. Decreases Stock Holdings in Canadian National Railway (NYSE:CNI)

Royal London Asset Management Ltd. lowered its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 23.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,201,886 shares of the transportation company’s stock after selling 368,502 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Canadian National Railway were worth $122,003,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Canadian National Railway by 4.4% in the third quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after purchasing an additional 790,420 shares during the last quarter. National Bank of Canada FI grew its stake in Canadian National Railway by 46.5% during the 3rd quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after buying an additional 2,137,948 shares during the last quarter. Fiera Capital Corp increased its position in Canadian National Railway by 2.6% during the 4th quarter. Fiera Capital Corp now owns 5,624,594 shares of the transportation company’s stock valued at $570,550,000 after buying an additional 142,070 shares in the last quarter. CIBC Asset Management Inc raised its stake in Canadian National Railway by 12.6% in the fourth quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company’s stock valued at $519,843,000 after buying an additional 571,967 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Canadian National Railway by 5.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock worth $464,002,000 after acquiring an additional 202,303 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Canadian National Railway Stock Up 0.0 %

Shares of CNI stock opened at $97.55 on Thursday. Canadian National Railway has a twelve month low of $93.64 and a twelve month high of $134.02. The stock has a market cap of $61.30 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.95 and a beta of 0.91. The stock has a 50 day moving average of $101.43 and a 200 day moving average of $107.49. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. As a group, sell-side analysts expect that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.6159 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.53%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio is 47.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CNI shares. Wells Fargo & Company cut their price objective on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Loop Capital lowered shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Barclays lowered their price objective on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. JPMorgan Chase & Co. raised Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada lowered their price target on Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.19.

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.