MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Cuts Holdings in Canadian National Railway (NYSE:CNI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 25.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,456 shares of the transportation company’s stock after selling 501 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Canadian National Railway were worth $192,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Canadian National Railway during the 4th quarter worth about $769,556,000. Canoe Financial LP increased its position in shares of Canadian National Railway by 8,401.1% in the fourth quarter. Canoe Financial LP now owns 4,007,186 shares of the transportation company’s stock worth $503,423,000 after acquiring an additional 3,960,049 shares in the last quarter. Capital International Investors raised its stake in shares of Canadian National Railway by 63.2% in the 4th quarter. Capital International Investors now owns 7,623,561 shares of the transportation company’s stock valued at $957,845,000 after acquiring an additional 2,951,506 shares during the period. Wellington Management Group LLP raised its stake in shares of Canadian National Railway by 9.6% in the 4th quarter. Wellington Management Group LLP now owns 21,868,740 shares of the transportation company’s stock valued at $2,761,473,000 after acquiring an additional 1,907,938 shares during the period. Finally, FIL Ltd lifted its holdings in shares of Canadian National Railway by 7.2% during the 4th quarter. FIL Ltd now owns 19,189,809 shares of the transportation company’s stock valued at $2,412,032,000 after acquiring an additional 1,280,726 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on CNI. Barclays raised their price objective on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Stifel Nicolaus boosted their price target on Canadian National Railway from $121.00 to $134.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Jefferies Financial Group initiated coverage on shares of Canadian National Railway in a research report on Monday, April 8th. They issued a “hold” rating and a $130.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Canadian National Railway in a research note on Friday, June 7th. They set an “equal weight” rating and a $130.00 price objective on the stock. Finally, StockNews.com lowered shares of Canadian National Railway from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Eighteen analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $148.95.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $117.60 on Wednesday. The stock has a market capitalization of $74.62 billion, a P/E ratio of 18.76, a P/E/G ratio of 2.07 and a beta of 0.89. The firm’s 50-day moving average price is $123.63 and its two-hundred day moving average price is $126.22. Canadian National Railway has a 52-week low of $103.96 and a 52-week high of $134.02. The company has a quick ratio of 0.46, a current ratio of 0.60 and a debt-to-equity ratio of 0.84.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings data on Tuesday, April 23rd. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. Canadian National Railway had a return on equity of 23.27% and a net margin of 32.81%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.16 billion. As a group, sell-side analysts forecast that Canadian National Railway will post 5.9 earnings per share for the current year.

Canadian National Railway Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $0.625 dividend. The ex-dividend date was Friday, June 7th. This represents a $2.50 annualized dividend and a yield of 2.13%. Canadian National Railway’s dividend payout ratio is presently 39.08%.

Canadian National Railway 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.