Capital Guardian Trust Co. reduced its stake in shares of Canadian National Railway (NYSE:CNI) (TSE:CNR) by 70.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,239 shares of the transportation company’s stock after selling 524,692 shares during the period. Capital Guardian Trust Co.’s holdings in Canadian National Railway were worth $18,082,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hall Laurie J Trustee increased its stake in shares of Canadian National Railway by 4.1% in the second quarter. Hall Laurie J Trustee now owns 1,275 shares of the transportation company’s stock worth $103,000 after purchasing an additional 50 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in shares of Canadian National Railway by 0.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,416 shares of the transportation company’s stock worth $115,000 after purchasing an additional 12 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Canadian National Railway by 0.8% in the second quarter. Proficio Capital Partners LLC now owns 1,783 shares of the transportation company’s stock worth $143,000 after purchasing an additional 15 shares during the period. Nikko Asset Management Americas Inc. bought a new position in shares of Canadian National Railway in the second quarter worth about $146,000. Finally, Sowell Financial Services LLC bought a new position in shares of Canadian National Railway in the third quarter worth about $200,000. Institutional investors own 53.83% of the company’s stock.
Shares of Canadian National Railway (NYSE:CNI) opened at $80.07 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.49 and a current ratio of 0.61. The firm has a market capitalization of $59,740.23, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 2.16 and a beta of 1.09. Canadian National Railway has a 1-year low of $66.58 and a 1-year high of $84.48.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be issued a dividend of $0.3304 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.65%. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, December 7th. Canadian National Railway’s payout ratio is presently 33.33%.
Canadian National Railway announced that its board has authorized a share repurchase plan on Tuesday, October 24th that authorizes the company to buyback 31,000,000 outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
A number of research firms have recently commented on CNI. TD Securities upgraded Canadian National Railway from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. They noted that the move was a valuation call. Goldman Sachs Group began coverage on Canadian National Railway in a research note on Monday, November 13th. They issued a “buy” rating and a $85.00 price objective on the stock. CIBC upgraded Canadian National Railway from a “neutral” rating to a “sector outperform” rating in a research note on Wednesday, November 8th. Zacks Investment Research upgraded Canadian National Railway from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. Finally, Deutsche Bank began coverage on Canadian National Railway in a research note on Wednesday, November 1st. They set a “sell” rating and a $73.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $79.67.
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About Canadian National Railway
Canadian National Railway Company is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico and serving the cities and ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans, and Mobile (Alabama), and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth (Minnesota)/Superior (Wisconsin), and Jackson (Mississippi), with connections to all points in North America.
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