Canadian National Railway (NYSE:CNI) Stock Holdings Cut by Legal & General Group Plc

Legal & General Group Plc cut its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,656,011 shares of the transportation company’s stock after selling 397,358 shares during the quarter. Legal & General Group Plc owned 0.89% of Canadian National Railway worth $668,225,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. GQG Partners LLC boosted its stake in shares of Canadian National Railway by 0.8% during the 1st quarter. GQG Partners LLC now owns 11,424 shares of the transportation company’s stock worth $1,505,000 after acquiring an additional 93 shares in the last quarter. Choreo LLC lifted its holdings in shares of Canadian National Railway by 1.5% in the first quarter. Choreo LLC now owns 6,427 shares of the transportation company’s stock valued at $846,000 after purchasing an additional 97 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Canadian National Railway by 2.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,156 shares of the transportation company’s stock valued at $547,000 after purchasing an additional 100 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Canadian National Railway by 1.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 9,350 shares of the transportation company’s stock valued at $1,105,000 after purchasing an additional 102 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Canadian National Railway by 19.3% in the second quarter. Blue Trust Inc. now owns 648 shares of the transportation company’s stock valued at $77,000 after purchasing an additional 105 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Canadian National Railway Stock Down 0.3 %

Shares of CNI opened at $116.41 on Friday. The company has a market capitalization of $73.30 billion, a P/E ratio of 18.57, a PEG ratio of 2.50 and a beta of 0.88. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.63 and a quick ratio of 0.48. Canadian National Railway has a one year low of $103.96 and a one year high of $134.02. The business’s 50 day simple moving average is $115.71 and its 200-day simple moving average is $121.79.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.09). Canadian National Railway had a return on equity of 23.58% and a net margin of 32.00%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.40 billion. During the same period in the prior year, the company posted $1.31 EPS. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. As a group, sell-side analysts predict that Canadian National Railway will post 5.58 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a $0.614 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, September 6th. Canadian National Railway’s dividend payout ratio (DPR) is currently 39.08%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Stephens cut their price objective on Canadian National Railway from $127.00 to $122.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. Bank of America cut their price objective on Canadian National Railway from $132.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Benchmark restated a “hold” rating on shares of Canadian National Railway in a report on Wednesday, July 24th. Barclays raised their target price on Canadian National Railway from $120.00 to $121.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Evercore ISI cut their target price on Canadian National Railway from $128.00 to $119.00 and set an “in-line” rating on the stock in a report on Wednesday. Sixteen analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $132.76.

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.