Coronation Fund Managers Ltd. Reduces Position in Canadian National Railway (NYSE:CNI)

Coronation Fund Managers Ltd. decreased its position in Canadian National Railway (NYSE:CNI) (TSE:CNR) by 10.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 182,222 shares of the transportation company’s stock after selling 22,253 shares during the period. Canadian National Railway comprises approximately 1.1% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 25th biggest holding. Coronation Fund Managers Ltd.’s holdings in Canadian National Railway were worth $18,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd raised its stake in shares of Canadian National Railway by 43.3% in the third quarter. XTX Topco Ltd now owns 15,552 shares of the transportation company’s stock worth $1,822,000 after purchasing an additional 4,698 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Canadian National Railway by 29.6% in the 3rd quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock worth $10,820,000 after buying an additional 21,100 shares during the period. Unigestion Holding SA raised its position in Canadian National Railway by 363.6% during the 3rd quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock worth $18,012,000 after buying an additional 120,687 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Canadian National Railway by 5.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock valued at $464,002,000 after acquiring an additional 202,303 shares during the period. Finally, Partners Group Holding AG lifted its stake in Canadian National Railway by 16.3% during the 3rd quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock valued at $47,571,000 after acquiring an additional 56,849 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of NYSE CNI opened at $101.53 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.48 and a current ratio of 0.66. The firm has a fifty day moving average of $103.56 and a 200 day moving average of $110.19. The firm has a market cap of $63.85 billion, a PE ratio of 19.83, a PEG ratio of 1.94 and a beta of 0.91. Canadian National Railway has a one year low of $98.69 and a one year high of $134.02.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last announced its earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. As a group, research analysts predict that Canadian National Railway will post 5.49 EPS for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.6159 per share. This represents a $2.46 annualized dividend and a dividend yield of 2.43%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, March 10th. Canadian National Railway’s payout ratio is presently 46.68%.

Wall Street Analyst Weigh In

CNI has been the subject of several recent research reports. Susquehanna reduced their target price on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays reduced their price objective on Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Wells Fargo & Company lowered their target price on 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. Jefferies Financial Group raised Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Friday, January 10th. Finally, Loop Capital downgraded Canadian National Railway from a “hold” rating to a “sell” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Canadian National Railway currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.19.

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.