Cigna Investments Inc. New Reduces Position in Canadian National Railway (NYSE:CNI)

Cigna Investments Inc. New cut its position in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,816 shares of the transportation company’s stock after selling 209 shares during the period. Cigna Investments Inc. New’s holdings in Canadian National Railway were worth $996,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CNI. Fortitude Family Office LLC boosted its position in Canadian National Railway by 738.7% in the 3rd quarter. Fortitude Family Office LLC now owns 260 shares of the transportation company’s stock valued at $30,000 after buying an additional 229 shares during the period. Arlington Trust Co LLC purchased a new stake in shares of Canadian National Railway in the 4th quarter valued at $30,000. Coastline Trust Co purchased a new stake in Canadian National Railway during the third quarter worth $34,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Canadian National Railway by 48.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 332 shares of the transportation company’s stock worth $34,000 after buying an additional 108 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in Canadian National Railway during the third quarter worth $41,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Canadian National Railway Stock Up 0.8 %

Shares of NYSE:CNI opened at $102.44 on Tuesday. The firm’s 50 day moving average price is $103.56 and its 200 day moving average price is $110.15. The stock has a market cap of $64.42 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91. Canadian National Railway has a fifty-two week low of $98.69 and a fifty-two week high of $134.02. The company has a quick ratio of 0.48, a current ratio of 0.66 and a debt-to-equity ratio of 0.94.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last issued its 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 net margin of 26.09% and a return on equity of 22.48%. As a group, equities research analysts predict that Canadian National Railway will post 5.49 earnings per share for the current fiscal year.

Canadian National Railway Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.6159 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.40%. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, March 10th. Canadian National Railway’s payout ratio is presently 46.68%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CNI shares. Barclays lowered their price target on shares of Canadian National Railway from $121.00 to $112.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. TD Securities upgraded shares of Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 13th. Bank of America reduced their price objective on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded shares of Canadian National Railway from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Friday, January 10th. Finally, Citigroup upgraded shares of Canadian National Railway from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $126.00 to $130.00 in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Canadian National Railway currently has an average rating of “Moderate Buy” and an average target price of $124.19.

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.