1,754 Shares in Canadian National Railway (NYSE:CNI) Acquired by Balentine LLC

Balentine LLC acquired a new position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,754 shares of the transportation company’s stock, valued at approximately $220,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec raised its position in Canadian National Railway by 5.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,067,300 shares of the transportation company’s stock valued at $1,421,649,000 after purchasing an additional 625,500 shares during the period. National Bank of Canada FI lifted its stake in shares of Canadian National Railway by 5.1% in the 4th quarter. National Bank of Canada FI now owns 6,385,441 shares of the transportation company’s stock valued at $800,750,000 after purchasing an additional 311,961 shares during the last quarter. Norges Bank acquired a new position in shares of Canadian National Railway in the 4th quarter valued at $769,556,000. Deutsche Bank AG lifted its stake in shares of Canadian National Railway by 7.3% in the 3rd quarter. Deutsche Bank AG now owns 5,575,661 shares of the transportation company’s stock valued at $604,011,000 after purchasing an additional 378,513 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Canadian National Railway by 2.2% in the 3rd quarter. Legal & General Group Plc now owns 4,477,999 shares of the transportation company’s stock valued at $487,145,000 after purchasing an additional 97,818 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

CNI has been the topic of several recent analyst reports. Stephens reaffirmed an “equal weight” rating and issued a $140.00 price target on shares of Canadian National Railway in a research note on Wednesday, April 24th. Stifel Nicolaus upped their price target on Canadian National Railway from $121.00 to $134.00 and gave the company a “hold” rating in a research note on Friday, April 12th. Jefferies Financial Group initiated coverage on Canadian National Railway in a research note on Monday, April 8th. They issued a “hold” rating and a $130.00 price target on the stock. Susquehanna upped their price target on Canadian National Railway from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Barclays boosted their price objective on Canadian National Railway from $127.00 to $130.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Eighteen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $149.05.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $126.32 on Friday. The stock’s 50-day moving average is $127.91 and its two-hundred day moving average is $124.78. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.60 and a quick ratio of 0.46. Canadian National Railway has a 1-year low of $103.96 and a 1-year high of $134.02. The company has a market cap of $80.43 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.23 and a beta of 0.89.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its quarterly earnings results on Tuesday, April 23rd. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.16 billion. Analysts forecast that Canadian National Railway will post 5.9 EPS for the current fiscal year.

Canadian National Railway Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders 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 dividend yield of 1.98%. Canadian National Railway’s payout ratio is currently 39.71%.

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.