Skandinaviska Enskilda Banken AB publ Decreases Holdings in Canadian National Railway (NYSE:CNI)

Skandinaviska Enskilda Banken AB publ trimmed its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,995 shares of the transportation company’s stock after selling 4,855 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Canadian National Railway were worth $7,760,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CNI. National Bank of Canada FI increased its stake in Canadian National Railway by 46.5% in the 3rd quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after purchasing an additional 2,137,948 shares during the period. Canoe Financial LP purchased a new position in Canadian National Railway in the 4th quarter worth approximately $216,943,000. Point72 Asset Management L.P. purchased a new position in Canadian National Railway in the 3rd quarter worth approximately $159,907,000. Wellington Management Group LLP increased its stake in Canadian National Railway by 4.4% in the 3rd quarter. Wellington Management Group LLP now owns 18,562,189 shares of the transportation company’s stock worth $2,175,935,000 after purchasing an additional 790,420 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of Canadian National Railway by 64.5% during the third quarter. Toronto Dominion Bank now owns 1,492,218 shares of the transportation company’s stock valued at $174,813,000 after buying an additional 584,832 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CNI. Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. upgraded Canadian National Railway from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 7th. Wells Fargo & Company dropped their price target on Canadian National Railway from $125.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Jefferies Financial Group upgraded Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Friday, January 10th. Finally, Susquehanna dropped their price target on Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.19.

Canadian National Railway Stock Up 1.9 %

CNI stock opened at $97.70 on Friday. Canadian National Railway has a 1-year low of $93.64 and a 1-year high of $134.02. The business has a fifty day moving average price of $101.77 and a 200-day moving average price of $107.90. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.48. The stock has a market capitalization of $61.40 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.95 and a beta of 0.91.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.09). Canadian National Railway had a return on equity of 22.48% and a net margin of 26.09%. Equities analysts forecast that Canadian National Railway will post 5.52 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. Canadian National Railway’s dividend payout ratio is 47.66%.

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.