Bowen Hanes & Co. Inc. Cuts Stock Holdings in Canadian National Railway (NYSE:CNI)

Bowen Hanes & Co. Inc. lowered its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 50,997 shares of the transportation company’s stock after selling 2,355 shares during the period. Bowen Hanes & Co. Inc.’s holdings in Canadian National Railway were worth $5,177,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CNI. XTX Topco Ltd grew its stake in shares of Canadian National Railway by 43.3% during 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 in the last quarter. Principal Financial Group Inc. grew its stake in shares of Canadian National Railway by 29.6% during the third quarter. Principal Financial Group Inc. now owns 92,300 shares of the transportation company’s stock worth $10,820,000 after purchasing an additional 21,100 shares in the last quarter. Unigestion Holding SA grew its stake in shares of Canadian National Railway by 363.6% during the third quarter. Unigestion Holding SA now owns 153,880 shares of the transportation company’s stock worth $18,012,000 after purchasing an additional 120,687 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Canadian National Railway by 5.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,962,972 shares of the transportation company’s stock worth $464,002,000 after purchasing an additional 202,303 shares in the last quarter. Finally, Partners Group Holding AG grew its stake in shares of Canadian National Railway by 16.3% during the third quarter. Partners Group Holding AG now owns 406,066 shares of the transportation company’s stock worth $47,571,000 after purchasing an additional 56,849 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Canadian National Railway Price Performance

Shares of NYSE:CNI opened at $96.91 on Thursday. The company has a 50-day simple moving average of $101.99 and a 200-day simple moving average of $108.20. Canadian National Railway has a one year low of $93.64 and a one year high of $134.02. 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 stock has a market capitalization of $60.88 billion, a price-to-earnings ratio of 18.93, a PEG 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 (EPS) 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%. On average, analysts predict that Canadian National Railway will post 5.52 EPS for the current year.

Canadian National Railway Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.6159 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Canadian National Railway’s previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 2.54%. Canadian National Railway’s dividend payout ratio (DPR) is 47.85%.

Analyst Upgrades and Downgrades

CNI has been the subject of a number of analyst reports. Loop Capital downgraded shares of Canadian National Railway from a “hold” rating to a “sell” rating in a research note on Monday, February 3rd. Bank of America lowered their target price on shares of Canadian National Railway from $119.00 to $112.00 and set a “neutral” rating for the company in a research note 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 note on Friday, January 10th. Susquehanna decreased their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their price objective on shares of Canadian National Railway from $174.00 to $171.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, Canadian National Railway has an average rating of “Moderate Buy” and an average target price 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.