Legal & General Group Plc Sells 1,095,849 Shares of Canadian National Railway (NYSE:CNI)

Legal & General Group Plc trimmed its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 19.5% in the 4th quarter, HoldingsChannel reports. The fund owned 4,529,315 shares of the transportation company’s stock after selling 1,095,849 shares during the quarter. Legal & General Group Plc’s holdings in Canadian National Railway were worth $459,702,000 as of its most recent filing with the Securities and Exchange Commission.

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 in the fourth quarter worth $563,048,000. Canoe Financial LP bought a new position in Canadian National Railway in the 4th quarter worth $216,943,000. Arrowstreet Capital Limited Partnership increased its stake in Canadian National Railway by 29.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,814,469 shares of the transportation company’s stock worth $488,488,000 after buying an additional 1,102,977 shares in the last quarter. Geode Capital Management LLC raised its holdings in Canadian National Railway by 29.0% during the fourth quarter. Geode Capital Management LLC now owns 3,306,192 shares of the transportation company’s stock valued at $340,987,000 after acquiring an additional 743,712 shares during the period. Finally, Toronto Dominion Bank lifted its position in shares of Canadian National Railway by 64.5% in the third quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock valued at $174,813,000 after acquiring an additional 584,832 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CNI shares. Barclays decreased their target price on Canadian National Railway from $112.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 2nd. Bank of America reduced their price objective on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus upped their target price on shares of Canadian National Railway from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Susquehanna reduced their price target on shares of Canadian National Railway from $115.00 to $113.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Finally, Wells Fargo & Company decreased their price target on shares of Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian National Railway presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.36.

Canadian National Railway Trading Down 1.7 %

CNI stock opened at $94.84 on Tuesday. Canadian National Railway has a twelve month low of $92.58 and a twelve month high of $132.27. The stock has a market capitalization of $59.60 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.95 and a beta of 0.93. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The firm’s fifty day simple moving average is $100.22 and its two-hundred day simple moving average is $105.61.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $1.30 earnings per share 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, analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $0.6159 per share. The ex-dividend date was Monday, March 10th. This represents a $2.46 dividend on an annualized basis and a yield of 2.60%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s payout ratio is presently 47.66%.

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.