Blueshift Asset Management LLC Takes Position in Canadian National Railway (NYSE:CNI)

Blueshift Asset Management LLC bought a new stake in Canadian National Railway (NYSE:CNI) (TSE:CNR) during the fourth quarter, HoldingsChannel reports. The firm bought 2,454 shares of the transportation company’s stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also bought and sold shares of CNI. Wellington Management Group LLP increased its position in shares of Canadian National Railway by 4.4% during 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 last quarter. National Bank of Canada FI increased its holdings in Canadian National Railway by 46.5% during the third quarter. National Bank of Canada FI now owns 6,737,322 shares of the transportation company’s stock worth $789,030,000 after buying an additional 2,137,948 shares during the last quarter. Fiera Capital Corp raised its position in Canadian National Railway by 2.6% during the fourth quarter. Fiera Capital Corp now owns 5,624,594 shares of the transportation company’s stock worth $570,550,000 after acquiring an additional 142,070 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Canadian National Railway by 12.6% in the fourth quarter. CIBC Asset Management Inc now owns 5,119,674 shares of the transportation company’s stock valued at $519,843,000 after acquiring an additional 571,967 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Canadian National Railway by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,562,480 shares of the transportation company’s stock valued at $302,895,000 after acquiring an additional 158,757 shares during the period. Institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CNI. Barclays dropped their target price 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. Loop Capital lowered Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Evercore ISI upgraded Canadian National Railway from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 19th. 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 note on Wednesday, January 8th. Finally, Jefferies Financial Group raised 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.19.

Canadian National Railway Stock Down 1.1 %

CNI stock opened at $96.71 on Friday. The stock has a market cap of $60.77 billion, a P/E ratio of 18.89, a P/E/G ratio of 1.95 and a beta of 0.91. The stock’s fifty day simple moving average is $101.27 and its two-hundred day simple moving average is $107.28. The company has a current ratio of 0.66, a quick ratio of 0.48 and a debt-to-equity ratio of 0.94. Canadian National Railway has a 1-year low of $93.64 and a 1-year high of $133.11.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). Canadian National Railway had a net margin of 26.09% and a return on equity of 22.48%. Analysts expect that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.6159 per share. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, March 10th. Canadian National Railway’s payout ratio is currently 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.