Canadian National Railway (NYSE:CNI) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. decreased its holdings in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 24.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 255,724 shares of the transportation company’s stock after selling 83,170 shares during the period. Canadian National Railway makes up approximately 1.3% of Intact Investment Management Inc.’s holdings, making the stock its 23rd largest position. Intact Investment Management Inc.’s holdings in Canadian National Railway were worth $32,144,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. PDS Planning Inc lifted its position in Canadian National Railway by 2.0% in the fourth quarter. PDS Planning Inc now owns 4,566 shares of the transportation company’s stock valued at $574,000 after purchasing an additional 89 shares during the period. Tacita Capital Inc increased its holdings 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 in the last quarter. Signaturefd LLC increased its holdings in Canadian National Railway by 1.0% in the third quarter. Signaturefd LLC now owns 10,739 shares of the transportation company’s stock valued at $1,163,000 after buying an additional 110 shares in the last quarter. Legacy Wealth Asset Management LLC increased its holdings in Canadian National Railway by 1.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 10,496 shares of the transportation company’s stock valued at $1,137,000 after buying an additional 111 shares in the last quarter. Finally, First Foundation Advisors increased its holdings in 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 buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

CNI has been the subject of a number of research analyst reports. CIBC cut shares of Canadian National Railway from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 10th. Benchmark reaffirmed a “hold” rating on shares of Canadian National Railway in a report on Wednesday. TD Securities cut shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Citigroup raised their price objective on shares of Canadian National Railway from $121.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, Jefferies Financial Group initiated coverage on shares of 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. Eighteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $149.05.

Canadian National Railway Stock Up 0.4 %

CNI stock traded up $0.45 during trading on Friday, reaching $125.23. The stock had a trading volume of 847,446 shares, compared to its average volume of 1,025,080. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The company has a current ratio of 0.60, a quick ratio of 0.47 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $79.98 billion, a P/E ratio of 19.97, a PEG ratio of 2.18 and a beta of 0.88. The firm has a fifty day moving average price of $129.49 and a 200 day moving average price of $122.34.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Canadian National Railway had a net margin of 32.81% and a return on equity of 23.27%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion. On average, equities analysts anticipate that Canadian National Railway will post 5.92 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed 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 is Friday, June 7th. This represents a $2.50 dividend on an annualized basis and a yield of 2.00%. Canadian National Railway’s dividend payout ratio is currently 40.03%.

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.